We don't like Lethargy on Isas
We don't like Lethargy on Isas
Cash Isas were introduced to encourage people to save by offering a tax-free incentive, but it appears that too many of us fail to take advantage.
Figures from IFA Promotion limited this week concluded that a staggering £110m will be wasted this tax year alone by savers not taking advantage of their annual Isa allowance. IFA Promotion's research found that 5.4m UK adults hold bank and building society savings accounts, but no Isas.
"This is another area where people are totally oblivious to the amount of money they are gifting the taxman," says IFA Promotion chief executive, David Elms.
"With Isa investment limits falling next year, people should consider making the most of higher tax-free limits while they still can."
Guardian Unlimited © Guardian Newspapers Limited 2003
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