ISA reform implementation welcomed

The announcement by HM Treasury to make major changes to the ISA effective from April 2008 is welcomed by PIMA and the UK savings industry at large.

PIMA worked alongside Ministers and officials to stimulate dialogue and consultation responses that allowed a better understanding of the implications of change. The solution will ensure that the 16 million ISA holders in the UK are best served by their providers and advisers. The 14 month window will allow a deeper understanding of the changes and what that means for individuals’ specific circumstances.

PIMA believes that these changes, long advocated by members and ISA-holders, will strengthen the ISA regime and further entrench it as the foremost savings scheme in the UK—for the short, medium and long-term.