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How to earn £40,000 tax free

Tax tip: We explain how to draw a 4.6 per cent yield on an £858,000 portfolio completely free of tax

New financial and civil penalties for bankers and accountants who aid and abet tax evasion and aggressive tax avoidance are expected to be included in the budget next month in the wake of the HSBC tax avoidance scandal.

Aggressive tax avoidance schemes typically try to exploit legal loopholes but there are many perfectly legitimate mainstream ways to invest tax efficiently using statutory allowances.

Individual savings accounts and pensions are popular ways to avoid taxes on your investments. But use of offshore bonds and the capital gains tax allowance can often be overlooked.

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