Increasingly, people are relying on other savings and investments they have to support their life after work. What’s more, many of these products can pay an income free of tax. Here are some examples:
Savings and investments
If you invest in stocks and shares directly or through a product – usually a unit trust, open-ended investment company or investment trust – you can withdraw up to the capital gains tax allowance each year without paying any tax. The Capital Gains Allowance is currently £6,000 (2023-24).
Do bear in mind that the value of any investment in stocks can go up and down (rise and fall).