Ahead of the game

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

In his pre-budget statement, the Chancellor of the Exchequer declared people will be able to transfer from Cash to Stocks and Shares ISAs to "benefit from the potentially higher returns offered by stocks and shares over the medium to long term" .

But Britannia Building Society launched a range of Guaranteed Capital Bond ISAs this month, which are mini cash and accept transfers.

The three and five year ISAs guarantee a tax-free return on the investment. And give the buyer access to potential stock market growth across the top 100 FTSE companies.

Tim Franklin, Managing Director of Member Business, said: "You can't predict the nature of the stock market, or even be sure you'll get your money back. However, Britannia's Guaranteed Capital Bond ISAs ensure you can invest your savings for a long period, protect your original investment and still potentially get a good return tax free. There is also no risk to your capital if no withdrawals are made."