01: Introduction

Maximum investment plans (MIPs) offer a tax efficient way to make regular invests for the longer term, and can appeal to higher rate and additional rate taxpaying investors wishing to achieve income, capital growth, or both.

MIPs provide the ability to invest in a range of funds specialising in different asset classes or in an assortment of asset mixes, and the chance to switch between them and redirect the investment of contributions at little or no cost.

MIPs can offer significant tax advantages for higher rate and additional taxpayers wishing to draw an income after ten or more years. However, they were subject to an attack in the 2012 Budget, leaving the investment considerations involved more complex than ever and best discussed with a professional adviser.Last Updated