F
ive years ago Stuart Fearn gave up his long-standing but expensive hobby of buying collectible furniture, and decided to switch jobs and finally become a saver.
After squirrelling away spare cash over the past few years, he now has £80,000 saved in cash to help with his transition from a job in finance to one in the charity sector.
Fearn, 55, from North Tyneside, wanted most of his nest egg to be easily accessible when he took his pay cut, but was still careful to move the cash around to get the best rates, spreading it between a mix of easy-access and fixed-term savings accounts.
Then he found that all his efforts have been rewarded with an unwelcome surprise: a four-figure tax bill.
