London investors save almost £200 per month

Whilst the majority of investors in London are saving, most are not maximising their returns or taking advantage of the tax breaks open to them, according to research conducted on behalf of Fidelity Investment Managers.

In this recent survey, 30 UK cities were polled and although results show that London is in the top ten UK cities saving the most each month, it also highlights that over 44% of people in the capital still do not have an ISA.   With the recent confirmation of the new ISA allowance for the next tax year, Fidelity is reminding investors to utilise their ISA to increase their long term savings pot.

Rob Fisher, Head of UK Personal Investment at Fidelity Investment Managers said: "It is great news that Londoners are saving so much each month, but with rising taxes savers and investors really should make sure they put as much as they can in their ISA each year and not miss out on the tax relief that is rightfully theirs.  ISAs are a year-round tax perk and a fantastic use-it-or-lose-it tax perk - no further tax to pay ever, and at the moment a generous £20,400 allowance for a couple, but no way back if you let the tax year pass without taking up your allowance.

For further information, visit fil.com.