Savings review

With the end of the tax year fast approaching, it is the perfect time to review your savings to make sure you are getting the most from your money.

Individual Savings Accounts should be an important part of any savings portfolio, whether you are saving for your retirement, your children's education or simply a luxury item like a holiday or new car.

Why save into an ISA? One of the key benefits of an ISA is that you don't pay income or capital gains tax on your savings, as you may with other savings or investment products.

There are two types of ISA – cash and stocks and shares. Most cash ISAs resemble bank and building society accounts, but can also be bought through investments such as unit trusts, which tend to invest in monetary deposits. Stocks and shares ISAs are usually made up of one or more investment funds or individual stocks and shares.