New HSBC plan launched

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New HSBC plan launched

A new HSBC plan allows customers to benefit from a "core capital protected product outside of an Isa stocks and shares wrapper", a spokesperson for the group has announced.

Malcolm Prince, head of multi-tie investments at HSBC, also said that those people using the plan would also be able to utilise their capital gains tax allowance.

The HSBC plan also offers 100 per cent capital protection and 103 per cent in the growth of the FTSE 100 index.

The group's aspiration in rolling out the HSBC plan is to provide capital growth rather than income and capital gains tax is payable on any gains in excess of the investor's limit.

Mr Prince said the plan's "simplicity coupled with the tax advantages on offer make this an ideal investment for typically cautious investors looking for a simple tax-efficient product."

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