New ISA rules 'can only be good for people'
26 March 2008
New simplified rules for Individual Savings Accounts (ISAs) - which come into force when the new tax year begins on April 6th - can only be positive for customers, it has been asserted.
Michelle Salde, a spokesperson for Moneyfacts, explains that more could be done to publicise the new guidelines, which allow consumers to put an extra £600 into the tax-free accounts.
"I haven't seen [anything] more widely publicised about the new rules. They probably should do something more to advise customers out there what is going on," she notes.
However, she states that the simplification is going to make it easier for anyone who is thinking of investing in an ISA and will also make it a more attractive option for them.
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As a result of the changes, there will no longer be a distinction between mini and maxi ISAs and all ISAs will have an overall limit of £7,200.
Feature Article: ISAs 2008 - What you need to know
