|
|
| |
| |
Isas Are Flexible, Tax-efficient, Expert Says |
|
(31st July 2008)
Paying money in to an Isa is a flexible and tax-efficient way of saving, according to the Building Societies Association BSA.
Spokesperson Rachel Le Brocq says the body has seen more money going in to cash Isas.
"The good thing about an ISA is that it is effectively tax free," she comments.
"You have a certain limit each year, and you can have a mixture of a cash Isa and a stocks and shares Isa.
"It gives you the flexibility of the choice and it's a very tax-efficient way of saving, so you earn more interest on your money."
For the first half of 2008, the BSA has reported record savings inflows of £6,296 million, compared to £3,862 million in the first six months of 2007.
According to the moneyfacts.co.uk cash Isa survey, building societies account for over 38 per cent of all cash Isa balances.
A £3,000 cash Isa will give an average interest return of £164.51 for the current tax year.
|
News brought to you by Start Again Finance, specialists in ISAs and getting the best ISA rates |
|
| |
|
|
|
|
|
|
|
|
