ISAs

Against the backdrop of a difficult market, end of tax year figures from retail stockbroker, The Share Centre, show a defiant 30 per cent rise in the number of Individual Savings Accounts (ISA) opened, compared with the same period in 2007.

From today Abbey's Super ISA stands alone as the only ISA product in the market offering 10 per cent, if customers put an equal amount or more into any Abbey investment product. Minimum investment is £1 into the Super ISA, and £1500 into an Abbey investment product.

HMRC's recent publication of ISA statistics confirmed that record number of investors are putting their savings into the Government's flagship savings scheme-the ISA.

Alliance & Leicester’s Premier ISA Issue 2 paying 10% pa gross/AER, available to new customers opening an Alliance & Leicester Premier current account, will only be available for one more week – the offer ends Sunday 20 April 2008.

One in four people (25%) say they have regrets about how they have managed their savings in the last tax year according to new research from Selftrade, the online execution only broker.

Following the Bank of England Base Rate change, the M&S variable Cash ISA rate has changed from 5.25% to 5.00% AER/tax-free with effect from today, Friday 11th April 2008.

The interest rate paid on NS&I's Direct ISA will decrease from 5.55% per annum to 5.30% following today's decrease in the Bank of England base rate by 0.25%.

The Bank of England's decision to cut base rate by 0.25% will be heartily welcomed by mortgage customers on tracker and variable deals. Savers, on the other hand, will treat the news differently.

Leeds Building Society has launched a market leading 5-year fixed rate ISA paying an escalating return up to 6.50% gross in year 5, with unlimited access to up to 50% of the initial amount invested at any time, without notice or penalty.

HSBC Investments this week launches its Capital Protected Plan and Capital Protected ISA, designed to appeal to investors seeking tax-efficient solutions in gaining upside exposure to the UK stock market, without putting their capital at risk.

With the new tax year just beginning, keen savers can take advantage of a reliable tax-free savings rate with Skipton Building Society at the touch of a button.

With an extra 20 per cent now allowed to be saved tax free and returns one per cent higher than last year, there has arguably been no better time to invest in an ISA.

Angela Eagle MP, Exchequer Secretary to the Treasury, today reminded savers of the reforms to ISAs (Individual Savings Accounts), which will take effect from Sunday 6 April 2008.

Rachel Thrussell, Head of Savings at Moneyfacts.co.uk – the money search engine, comments on this year’s findings: “This year’s moneyfacts.co.uk mini cash ISA survey shows the projected value of £3,000 over the tax year 2007 to 2008.

Halifax Financial Services stocks and shares ISA customers that invest £4000 will save on average £171.25 in upfront charges, compared to other banks.