Britons need to plan Isa limits, says NS&I

www.moneynews.co.uk > Banking > Britons need to plan Isa limits, says NS&I

Britons need to plan Isa limits, says NS&I

Mon 22nd Feb 2010

Savers need to do more to make sure that they can take full advantage of the new Isa limits being introduced in April, it has been reported.

According to NS&I, just 15 per cent of individuals surveyed stated that they understood the new limits, which will allow them to save up to £10,500 a year tax free.

But it is not only the changes to the system which some are finding confusing, as 16 per cent admit that being unclear about how an Isa works has put them off from saving.

John Prout, sales director at NS&I said: "With less than two months to go until the end of the tax year, there is no time like the present for everyone to check their finances and plan to benefit from tax-free savings."

As well as offering Isas, the institution has recently announced the launch of the Direct Saver account in March 2010, which will pay an attractive rate of interested on investments and allow easy access for account holders.

Click here for more banking news

Related News : Banking
	Young people 'should be taught to save'
	Families 'should plan for their children's future
	Switching bank accounts 'not as easy as banks portray'
	Brits facing finance difficulties 'should talk to their bank'
	Brits 'should utilise Isa allowances'
	Brits advised on investment options
	Children 'should be given bank accounts at 16'
	Falling inflation 'could help Brits save'
	Money worries 'are mounting for many'
	Contactless payment 'is secure and convenient'