Switching to ISA’s could save Britons £170m a year

Switching to ISA’s could save Britons £170m a year February 8

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British taxpayers are collectively wasting £170 million a year by not investing in ISA’s, according to a new study.

Research by Unbiased.co.uk has found that four million people currently hold shares that are not secured in ISA’s, while seven million Britons are leaving money untouched in ordinary savings accounts.

They would be better served by putting savings and investments in ISA accounts, according to David Elms, chief executive of IFA Promotion.

“Whether or not to put your savings and/or other investments into an ISA is a straightforward decision,” said Mr Elms.

“If you do not use an ISA, you will pay more tax – it really is as simple as that.”

The deadline for investing in ISA’s for this financial year is April 5th.

Although Mr Elms was careful to stress the advisability of consultation with an independent advice service before any action was taken, he did make plain that he considered ISA’s “an excellent place” to store savings

Written Exclusively by AdFero for ISA Guides

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