Savers 'may wait until March to take out Isas'

www.moneynews.co.uk > General finance > Savers 'may wait until March to take out Isas'

Savers 'may wait until March to take out Isas'

Fri 16th Apr 2010

Many savers may decide to wait until the end of the tax year to take advantage of their Isa allowance, according to a finance expert from Informed Choice.

Chartered financial planner at the organisation Martin Bamford pointed out this is what happened in the last tax year that finished in March and suggested that it could be indicative of the nation as a type of saver.

He stressed that there has been an increase in the number of people benefiting from their increased Isa allowance early on during this financial year, but it is likely that many will wait.

Mr Bamford is hopeful that people will decide to use such products to save more, but he does not feel that it will obstruct the country's economic recovery if the public starts to spend less.

"As a nation, we are still a long way from our previous savings ethic so it would need a major change in attitudes for people to stop their consumerism altogether," he explained.

The remarks were made after it was revealed by the Fair Investment Company that 37 per cent of people plan to invest their whole Isa allowance during the 2010/11 tax year.

Click here for more general finance news

Related News : General finance
	Citizens Advice welfare applauds government
	Confused.com energy defends British Gas
	Bank of Ireland passes stress test
	Tesco Mobile deal 'courts consumers'
	Scottish Widows Investment Partnership notes favourable response
	Customers should fix now, says moneysupermarket.com energy
	Confused.com highlights importance of getting the best deal
	Prices on the rise, says moneysupermarket.com energy
	Bank of Scotland economic report 'suggests transitional phase'
	Clydesdale and Yorkshire Banks security advice issued