The Share Centre sees a 60 per cent rise in ISA take-up

Retail stockbroker, The Share Centre, has reported a 60 per cent rise in the number of Individual Savings Accounts (ISA) opened in January and February of this year, compared with the same period in 2007. In particular, the stockbroker’s new Funds ISA launched in January, accounted for 36 per cent of all ISAs opened during the first two months of the year.

Commenting on their new Funds ISA, Ian Benning, Product Development Manager at The Share Centre said: “Stocks and shares ISAs are a great way for investors to protect some of their stock market profits from the taxman. The credit crunch and recent market fluctuations will have no doubt left some investors wary of investing in the stock market. We wanted to offer our customers the choice to invest in over 1400 funds from well-known investment companies using a tax efficient wrapper, and our no annual fee makes it a cost effective way for investors to mix and match the funds they want to include, depending on their appetite for risk”.

With a new tax year fast approaching The Share Centre is reminding investors about the benefits of starting their ISA investments earlier rather than later. “The earlier in the tax year you invest your allowance the longer your investments benefit from tax free growth” said Benning. “Investors should take full advantage of their ISA allowance. Simply setting up an agreed direct debit is a good way to earmark savings or investments. £7,000 may seem a lot of money to start with, but over time these savings or investments together with any interest or profits could soon grow into a significant amount” Benning concluded.

For more information on The Share Centre’s Funds ISA please visit share.com/fundsisa