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Article: Give Isas the credit they deserve; Isas have opened up more tax-efficient savings opportunities for more people than ever before so dont knock them.
- Article from:
- Financial Advisor
- Article date:
- November 20, 2003
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Despite being much maligned by some parts of the financial services industry, Isas have opened up more tax-efficient savings opportunities to greater numbers of the UK population.
This is more so than was previously the case under its predecessors Peps and Tessas. The governments own figures suggest that over 14m people now have some form of Isa account, which is double that of combined number of Pep and Tessa accounts in 1998-99, their last and most successful year.
There clearly remain some un-resolved issues on Isas in respect of their structure, complexity and tax-treatment, which I will discuss further, but the over-arching point remains that Isas ...