ISAs

From 1st Feb until 30th April 2007 investors and their advisers will be able to take advantage of a reduced front end charge on all ISA investments made into any Resolution equity, fixed interest or property unit trust.

The interest rate paid on National Savings and Investments' Direct ISA will rise from 5.55% per annum to 5.80% following today's increase in the Bank of England base rate by 0.25%.

M&S Money is increasing its Cash ISA rate from 5.00% to 5.25% with effect from tomorrow, Friday 12th January 2007, following the decision by the Monetary Policy Committee to increase the Bank of England Base Rate by 0.25%.

Delaying saving into an ISA could cost Britons £462 million interest by delaying using their yearly ISA allowance, according to research conducted by Abbey.

The latest Investment Management Association statistics which have just been released have revealed that despite soaring stock markets - net sales of fund based Individual Savings Accounts were actually negative in November (-£3.1 million), the first month this year when more investors have cashed up their plans than those who have bought new ones.

Fidelity FundsNetwork, the UK’s leading investment platform, is predicting a buoyant ISA season in 2007, with ISA fund sales via the platform from advisers and investors likely to be up by over 30% on 2006.

Britannia Building Society is one step ahead of Gordon Brown who announced plans allowing investors to transfer funds within ISAs earlier this month.

Legal & General is offering customers, who invest direct, a rebate of the 2007 annual management charge (excluding extra expenses) for lump sum investments of at least £4,000 made into one or more of its five geographical index-tracking trusts within an ISA before 30 April 2007.

Nationwide Building Society has announced that it will be launching new one, two and three year Fixed Rate ISA Bonds from 8 December 2006.

Leeds Building Society has launched a new 3-year fixed rate ISA and TOISA paying 5.20%, which has been specifically designed to offer a combination of an excellent tax-free return and the flexibility of access to a portion of the funds without notice or penalty.

The announcement by Economic Secretary Ed Balls MP confirms the Government’s intention to carry forward several of PIMA’s major revisions to the ISA regime.

Economic Secretary, Ed Balls, announced that transfers between cash ISAs and stocks and shares ISAs will in future be allowed, but only in one direction - from cash to stocks and shares.

Rezah Attar-Zedah, Abbey's head of savings and investments comments on the Economic Secretary, Ed Balls' statement on ISAs:

Commenting on the Economic Secretary, Ed Balls’ statement on ISAs today, David Kuo, Head of Personal Finance at www.fool.co.uk says:

With the date of the Pre-Budget Report announced today, Scottish Widows comments on the Government’s proposed reforms for ISAs, and calls for a detailed timetable of implementation and further simplicity for savers to be included in the Pre-Budget Report.