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ISA investors look forward to new tax year

ISA investors look forward to new tax year

Category: Savings

Updated: 29/03/2010
First Published: 29/03/2010

MONEYFACTS ARCHIVE
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Confident ISA investors are already planning ahead, with almost three quarters preparing to take full advantage of the increased ISA allowance in the 2010/2011 tax year.

As the end of the current tax year approaches, 71% of savers said they had their eye on using up the full complement of the new £10,200 ISA limit, which will come into effect for everyone from 6 April.

At present, only those over the age of 50 are entitled to the increased allowance, with the rest having to make do with £7,200.

The research from Barclays Stockbrokers also revealed that four in five (81%) investors plan to put their money into a stocks and shares ISA in the next tax year.

Three in five (59%) investors said they wanted to take advantage of the increased ISA allowance in order to protect more of their assets from the taxman.

Almost a third (29%) said they were hoping to get a better return than those currently achievable on cash.

"With the end of the tax year imminent, it is encouraging to see over two thirds of our ISA clients are already planning ahead to the next tax year and looking to take advantage of the increased ISA limits available to all," said Barbara-Ann King, head of investments at the stockbrokers.

"In this low interest rate environment, investors also need to develop diversified portfolios to stand the best chance of obtaining the returns they seek."

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