ISAs

As the countdown to the end of the tax year begins in earnest, Bradford & Bingley has announced the launch today of a trio of competitive ISA products.

More than nine out of ten UK adults are not using their full tax-free savings allowance, according to new research from Lloyds TSB Savings.

Abbey will be launching a new Super ISA (Issue 2) with a market leading 10 per cent AER tax-free rate from 3 March 2008.

As many as one in three Cash ISA savers are not taking full advantage of their tax‑ free allowance, according to research by M& S Money.

M&S Money is extending the interest rate guarantee on its variable rate Mini Cash ISA, underlining its commitment to offering customers consistently good savings rates.

Sean Gardner, Chief Executive of moneyexpert.com, said: "With interest rates falling fixed-rate deals are a good bet and ideas such as Lloyds TSB's combi-rate are to be welcomed. Anyone stuck in a poorly-performing cash ISA should be looking around for a better rate.

Lloyds TSB has launched a new Fixed Rate Cash ISA with a highly competitive interest rate of up to 6.50 per cent.

Legal & General is currently offering customers a rebate of the 2008 annual management charge (excluding extra expenses) for lump sum investments of at least £4,000 made into one or more of a selected range of Legal & General ISAs before 05 April 2008.

Alliance & Leicester is launching a new ‘best buy’ version of its popular Direct ISA account – Direct ISA Issue 4. The Direct ISA Issue 4 is a mini cash ISA and will be available from Friday 8 February at Alliance & Leicester branches or online at alliance-leicester.co.uk.

The interest rate paid on NS& I's Direct ISA will decrease from 6.05% per annum to 5.80% following today's decrease in the Bank of England base rate by 0.25%.

Michelle Slade analyst at Moneyfacts.co.uk comments: ”As the end of another tax year fast approaches, savers should be looking to make the most of their tax free allowance. Any allowance not used by the 5 April deadline will be lost forever.

JPMorgan Asset Management has launched a free guide for investors explaining the changes to Individual Savings Accounts (ISAs) due to come into effect in April this year.

Nine years on from the introduction of Individual Savings Accounts (ISAs) the Government has simplified them, with changes effective from 6 April this year.

Nationwide estimates that, during the current tax year (2007-08), savers in the UK could be paying more than £230 million extra in tax by failing to take advantage of their yearly ISA allowance.

Icesave has launched into the ISA market with yet another market leading product, Rachel Thrussell Head of Savings at Moneyfacts.co.uk, comments: “The Easy Access ISA fits the same mould as their other savings accounts, it’s simple, straightforward and pays a very competitive return.