Guides · tax year 2026/27
Money basics, explained
Everyday money explained: debit and credit cards, how inflation affects cash, what changes when money is invested rather than saved, how fund structures, unit classes, platform fees and offshore funds work, and how to check a firm and complain if something goes wrong.
Figures checked against GOV.UK and other official sources on
- FSCS deposit protection
- £120,000
- Per eligible person, per authorised bank, building society or credit union, from 01/12/2025 (it was £85,000 before). Includes cash ISAs.
- FSCS: Banks, building societies and credit unions, checked
- FSCS investment protection
- £85,000
- Per eligible person, per firm, for authorised investment firms that fail after 01/04/2019. It does not cover falls in the value of investments.
- FSCS: Investments, checked
- Section 75 cover (credit cards)
- Over £100 and up to £30,000
- The cash price of a single item or service bought at least partly on a credit card or with certain point-of-sale credit.
- legislation.gov.uk: Consumer Credit Act 1974, section 75, checked
- Personal Savings Allowance
- £1,000 / £500 / £0
- Tax-free savings interest for basic, higher and additional rate taxpayers respectively.
- GOV.UK — Tax on savings interest (how much is tax free), checked
9 guides to everyday money
- Debit cards and credit cardsWhat is the difference between a debit card and a credit card?A debit card spends money already in your bank account, while a credit card borrows money that has to be paid back, often with interest. They also give different protection when something goes wrong with a purchase.Read the guide
- Cash savings and inflationHow does inflation affect cash savings?Inflation means prices rise over time, so the same amount of money buys less. If the interest on savings is lower than inflation, the buying power of that money falls even though the balance goes up.Read the guide
- Investing and savingWhat changes when you invest instead of save?Saving usually means keeping money in cash accounts where the balance does not fall, while investing means buying things such as shares, bonds or funds whose value can fall as well as rise. The two also differ in protection, costs and how long money is usually held.Read the guide
- ETFs explainedWhat is an ETF and how does it work?An ETF (exchange-traded fund) is a fund whose shares are bought and sold on a stock exchange during the trading day, like a company’s shares. Most track an index, and the value of an investment can fall as well as rise.Read the guide
- ETFs, OEICs and investment trusts comparedHow do ETFs, OEICs and investment trusts differ?All three pool many investors’ money, but they are bought and priced differently: an OEIC or unit trust is bought from the fund manager at the next price worked out from its holdings, an ETF trades on a stock exchange at a market price that usually stays close to the value of its holdings, and an investment trust is a listed company whose share price can sit well above or below the value of what it owns. None of the three structures protects against falls in the markets it invests in.Read the guide
- Accumulation and income unitsWhat is the difference between accumulation and income units?Accumulation (Acc) units keep a fund’s income inside the fund, where it adds to the value of each unit, while income (Inc, or Dist on many ETFs) units pay it out as cash. Held outside an ISA or pension, the income is taxable either way, even when it is reinvested rather than paid.Read the guide
- Platform fees explainedHow do investment platform fees work?An investment platform charges for holding investments through it, usually as a percentage of what you hold or as a fixed amount in pounds, and this is separate from the ongoing charge each fund takes from its own assets. Dealing, account and other fees can be added, depending on the account and how often you buy and sell.Read the guide
- Offshore funds and reporting statusWhat is UK reporting fund status?UK reporting fund status is an HMRC approval for a fund based outside the UK, such as an Irish or Luxembourg ETF, under which a UK investor’s gain on selling is taxed as a capital gain rather than as income. A reporting fund also reports its income for each period, and income it kept rather than paid out is taxed on investors who hold it outside an ISA.Read the guide
- Checking a firm and avoiding scamsHow can I check a financial firm and protect myself from scams?Almost all UK financial firms must be authorised by the FCA, and the FCA Firm Checker and Financial Services Register show whether a firm is. If something goes wrong, the Financial Ombudsman Service handles complaints and the FSCS can pay compensation when an authorised firm fails.Read the guide
From saving to investing
Fundology lists UK-listed funds with their charges in pounds, returns before and after inflation, and holdings. Which fund suits anyone depends on their circumstances; the lists are information, not a shortlist.
This is information, not advice. For free, impartial guidance, MoneyHelper (backed by the government) can help; for a personal recommendation, speak to a regulated financial adviser.