If you are new to investing, perhaps the most difficult concept to get across is the relationship between risk and reward. These notes try and explain why risk is required (in almost all cases) to achieve long term goals.
We use the Transact onshore bond wrapper where you wish to defer or mitigate higher rates of tax and, in many cases, receive regular income. The flexibility of the Transact wrapper does mean, however, that when considering what cash to hold throughout a year we have to allow for tax as well as charges, income and withdrawals. This note is designed to explain how the tax works.