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Are tax efficient investment vehicles still worth considering in the current environment?

The introduction of ISAs and other tax efficient investment vehicles over the last decade have proved very popular although many people are wondering if they should consider these in light of the current economic climate. While it is essential that any investor looking to invest money into the UK stock market, property market or any other market takes professional advice regarding their own particular circumstances, there are still many benefits to looking longer term.

The ability to protect your investments under a tax efficient umbrella is something which is ongoing and will take time to build-up, but this is something which we should all consider at some stage. When you also appreciate the fact that UK income tax rates, and indirect taxation, is set to mushroom in the UK over the next decade to pay for the massive increase in national debt this gives tax efficient vehicles more reason for consideration.

The key to any successful investment strategy is the ability to look long-term and while appreciating any short to medium term movements the focus should always be on the longer term. For example if you were to miss one year's ISA allowance this will effectively be gone forever as you cannot backdate your ISA contributions - and funding into many other tax efficient vehicles. Be aware of the potential to save tax in the longer term but also ensure that you take professional advice regarding your own situation.

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