ISAs

PIMA is encouraging consumers not to miss out on joining the huge crowd of thrifty people saving in their 2006-2007 ISA.

Britons may be losing nearly £3 billion interest by delaying using their yearly ISA allowance until April 2008, according to research conducted by Abbey Savings.

Leeds Building Society is believed to be the only financial service provider in the UK to open its branches on Good Friday (6th April), the first day of the new tax year.

Great news for ISA savers still planning to invest for this tax year, M&S Money is extending the deadline when it needs to have received ISA applications right up to the new tax year deadline of midnight on April 5th 2007.

Nationwide Building Society estimates that people in the UK could receive an additional £594 million on their savings and investments by topping up their existing Individual Savings Accounts (ISAs) at the beginning of the new tax year, rather than at the end.

Thousands of savers could miss out on this year's ISA allowance because they have failed to give their provider instructions for matured accounts, according to new figures from Halifax.

With thousands of products in stock and many bargains to be had, more and more ISA shoppers are turning to fund supermarkets, according to Fidelity International.

Super ISA offers 8.1 per cent AER tax free until 1 May 2008, providing a Guaranteed Growth Plan (GGP) is also taken out.

Customers switching to Abbey’s Direct ISA would be £67.50 better off on average transfer amount.

ISA investors can apply online for a Legal & General ISA, for the 2006/2007 tax year, just a few minutes before the deadline at midnight on Thursday 5 April.

Rachel Thrussell, Head of Savings at Moneyfacts.co.uk, comments: “This year’s moneyfacts.co.uk mini cash ISA survey shows the projected value of £3,000 over the tax year 2006 to 2007. Assuming that the full investment of £3,000 was made on 6 April 2006, that no withdrawals were made and all interest was compounded during the tax year, the survey has wielded some very interesting results.

As the end of the tax year draws closer, Fidelity International, the mutual fund manager, announces a range of options for investors to make their ISA investment.

HSBC has launched a new Capital Protected Plan to help investors maximise their ISA allowances and make the most of the newly increased Capital Gains Tax (CGT) allowances of £9,200 for single investors and £18,400 for qualifying couples.

Investors have only a few days left to use up the tax-free allowance they can pay into an ISA with financial services provider, Alliance Trust Savings, that gives them all-year-round value for money and saves them tax.

In a bid to encourage investors to take advantage of tax-efficient investment measures, JPMorgan Asset Management (JPMAM) today announced that it is offering discounts across its range of Investment Trust and OEIC ISAs until 30 April 2007.

Paul Feeney, Head of Distribution at Gartmore, has welcomed the Government’s announcement that the annual investment limit for equity Individual Savings Accounts (ISAs) is to be increased from £7,000 to £7,200 from April 2008.

Rachel Thrussell, Head of savings at moneyfacts.co.uk – the money search engine, comments: “As the end of another tax year approaches, banks and building societies have been stepping up their efforts in an attempt to capture their slice of the huge ISA market.

Leeds Building Society is believed to be the only financial service provider in the UK to open its branches on Good Friday (6th April), the first day of the new tax year.

Britannia has launched a new mini cash ISA with a fixed rate of 5.85 AER/tax free percent.

With less than a month left for consumers to make the most of their current tax-free ISA savings allowance, Barclays from Friday 16th March introduces a new cash ISA paying 6.50 per cent AER interest.

As the 5th April approaches, the Association of Investment Companies (AIC) has collated ISA deadlines from participating member investment companies and their managers.

Investors will save as much as £350 on shares ISA investments under a new service available through MoneyExpert.com.

Savers could be earning a massive £73,611 extra over a lifetime if their savings were invested in a tax efficient Individual Savings Account (ISA) – a figure which would double for high-rate tax payers, according to research from Alliance & Leicester Savings.

One in four ISA investors are uncertain about where to invest their allowance this year, according to the annual “Investor Watch” survey from Fidelity International.

Last week, Alliance & Leicester increased the rate on its new Premier ISA to 8.10% gross pa/AER, making it a leading rate for tax efficient savings.