Isa rush 'may continue through April'
07 April 2008
While the individual savings account (Isa) rush for the 2007-08 financial year may now be at an end, good opportunities remain for those looking to save.
That is the opinion of price comparison firm moneysupermarket.co.uk, which states that advantages can still be enjoyed by those seeking tax free savings in the coming weeks.
A change in the limit on savings in cash Isas implemented as part of the latest Budget means that consumers can now squirrel away £3,600 tax free - up from £3,000 last year.
Moneysupermarket.co.uk suggests that the increased sum, paired with bank offerings of 6.5 per cent interest, could result in continued uptake of the savings vehicle through April.
Kevin Mountford, Head of Savings at the firm, remarks: "Rates on cash Isas are, on average, one per cent higher than this time last year and with market conditions being so strong for savers, there may have never been a better time to invest."
Investing in an ISA?
Earlier this month, Treasury spokesperson Angela Eagle stated that new Isa rules that came into play this weekend would make such savings simpler to understand.
