ISAs

Research by Lincoln Unit Trust Managers reveals that as the end of the tax year approaches, UK adults are yet again letting tens of billions of pounds worth of tax efficient stocks and shares ISA entitlement go to waste.

New regulations from 6 April 2008 will give those with cash savings more flexibility than ever before. Savings in Cash ISAs will be able to be moved into stocks and shares without affecting annual subscription limits.

There are less than two weeks to go for investors to submit their ISA applications if they want to take advantage of this year’s allowance. With tax year-end falling on a Saturday, TD Waterhouse is offering a lifeline for last minute investors who don’t want to miss out.

With the tax year deadline approaching, Abbey today warns that many of the “top buy” accounts operate restrictive transfer conditions.

Cheshire Building Society is offering savers a new Fixed Rate Mini Cash ISA ideal for investors looking to take advantage of this year’s tax-free savings allowance, before the end of the tax year on the 5th April 2008.

To mark the start of the new tax year, Bradford & Bingley is to launch a one-year fixed rate ISA and one-year fixed rate eISA, both at a market-leading rate of 6.25% tax-free p.a./AER.

Invesco Perpetual, UK Pep and ISA provider, believes investors should consider spreading their investment risk by saving regularly either through its monthly savings plan or phased investment option.

Cash ISA accounts are being opened at the rate of three to one against equity ISAs as savers are scared off by stock market volatility in the run up to the end of the tax year according to analysis from Virgin Money.

Abbey today announces full details of late opening branches for last minute ISA applications across the UK. Customers will be able to fill in an ISA application in the branches until the branch closing time to use this year’s tax-free ISA allowance.

Research from Alliance & Leicester Current Accounts has revealed that an alarming number of young people have a big knowledge gap when it comes to savings, with a staggering two thirds (67%) of working 16 to 21 year olds admitting they don’t know what the abbreviation ‘ISA’ stands for, with a further one in ten (10%) saying they have never even heard of an ISA.

New research from Nationwide Building Society reveals that ISA holders are not making full use of their tax-efficient allowance. In the current tax year:

This year’s March bonuses will not be spent on shopping sprees and shiny new cars. More than two in seven people (16%) plan to invest their bonus in an ISA instead, showing a more financially cautious approach in credit crunch Britain, according to new research by Selftrade, the online stockbroker.

Fidelity FundsNetwork is calling on the government to make further changes to ISA legislation to build on the changes set to be introduced on 6th April 2008.

IFAs are tipping Asian equities (ex Japan) as the asset class they think will perform best in 2008, according to new research from James Hay.

Worryingly, the majority (66%) of British females will not be investing in an Individual Savings Account (ISA) before 5 April 2008, and are on track to become the ‘biggest losers‘ in the tax-free savings stakes according to new research from The Co-operative Bank Cash ISA’s.