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Article: ISAs Get Nicer.(individual savings accounts)
- Article from:
- Mondaq Business Briefing
- Article date:
- April 12, 2007
CopyrightCOPYRIGHT 2007 Mondaq Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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With ISAs set to become permanent and less complicated, we examine the proposed changes and why it's great news for investors.
As at April 2006, there was [pounds]111bn invested in Cash ISAs and [pounds]70bn invested in Stocks and Shares ISAs.
The government is keen to encourage further saving and, in his pre-Budget report in December, the Chancellor announced that Individual Savings Accounts (ISAs) will become permanent.
These changes were confirmed in the March 2007 Budget when further rule modifications were announced. These will take effect as of 6 April 2008.
This is good news, as ISAs were originally planned to cease in 2010. The ...