Protect savings from taxman, says expert

Money News

www.moneynews.co.uk > Banking > Protect savings from taxman, says expert

Topics

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Features

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Companies

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Money News

bullet
bullet
bullet
bullet
bullet

Protect savings from taxman, says expert

David Kuo, director of the financial website Fool.co.uk, said the possibility of a hung parliament and a 'double dip' recession should encourage savers to prepare for an unstable future.

He advised that customers to consider the benefits of the interest paid on savings and Isa accounts.

"The crucial thing here is; if it is money you want to put away for a long time, then finding a savings account that will beat inflation at 3.5 per cent will be as hard as finding hens' teeth," Mr Kuo remarked.

Barclays recently announced that thousands of people could lose out on their tax free allowance by the start of the new tax year and that 42 per cent of people were unaware about the new Isa rules.

In last year's Budget, chancellor Alistair Darling announced that customers would be able to invest up to £10,200 in Isas.

Click here for more banking news
ADNFCR-323-ID-19656998-ADNFCR

Related News : Banking

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet