Back to school: Saving for a private education

Peter McGahan, managing director, Worldwide Financial Planning: There are different views taken by parents on saving. Some like to create a separate 'pot' for each area (school, holidays, weddings etc). Others like to save in one tax efficient area and then draw on that for whatever life throws at them. Either way, the two key issues are tax efficiency, and careful management of the funds, especially as the child gets closer to using the capital. Naturally an Isa is the most tax efficient way to save for the future, with all gains being free from capital gains tax. Access is immedia...