Paul is 60 and is about to take his pension benefits. He can live comfortably on the income but needs to make sure that the lump sum accompanying his pension keeps its value. As a result he is able to make substantial gifts into trusts for the benefit of his grandchildren.

For Paul, we we will arrange ISA investments for him, and also for his wife to maximise their annual allowances. The balance is invested in general investment accounts that can be switched to ISAs when the new allowances become available when the new tax year starts next April. We will ensure they continue doing this until all of their nest egg is sheltered in ISAs. This will mean that any income they then take or capital they withdraw will be completely free of all taxes.