By making sure you use all tax allowances in the right order, you can be significantly better off, even before you even consider investment growth.
Some tax incentivised investments can bring good savings but as always, where there is return there is risk. Of course the government wants to incentivise us to invest in new ventures and so gives good tax breaks, but start-ups and AIM listed companies bring a greater level of risk. We only consider these types of investment for certain clients and have strict guidelines about how we use them.
There are many other legitimate ways to pay less tax which involve no risk and lots of people do not take advantage of them, for instance making gifts from income. There are rules that apply which can be confusing and records must be kept but having a financial plan makes it easy to keep those records and know how much income you have to give away.
N.B. The Financial Conduct Authority does not regulate some aspects of tax advice, wills or trusts.