TAX EFFICIENT INVESTING
You can save in investment funds, investment trusts and insurance products, and receive an extra tax benefit if you invest through a tax "wrapper" such as an Individual Savings Account (ISA) or a pension.To clarify the relationship between the wrapper and the investment - imagine that the assets e.g shares, are the ingredients, the product - the investment fund or investment trust - is the cake, and the ISA or the pension is the wrapper or box around the product which protects it from paying certain taxes.