Individual Savings Accounts (ISA) enjoy freedom from income tax and capital gains tax. Your maximum annual investment in ISAs this tax year can be £11,520 (up to £5,760 of which can be saved in a cash ISA). Your investment needs to be made on or before 5th April 2014.
Spouses each have their own allowance, so if you’re married consider investing up to £23,040.
In addition have you thought about investing for your children (or grandchildren) by setting up a Junior ISA? In the current tax year, you can invest £3,720 into a Junior ISA for any child under 18 who does not already have a Child Trust Fund.