Isa uptake has been 'huge' in 2010

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Isa uptake has been 'huge' in 2010

Fri 29th Jan 2010

The number of people aged over 50 who have been looking to invest their cash in an Isa this year has increased dramatically, it has been stated.

Adrian Lowcock, senior investment adviser at Bestinvest, said that the relief from Isas has provided "a ray of light" as there has been little other good news for investments and tax wrappers.

He advised investors aged over 50, who can access the increased limits on Isas, to top up their accounts as much as possible before April 5th as he believes that taxes are set to increase for some time to come.

Extending the limits to include people from all age groups would have made more sense, Mr Lowcock said, as it would not have impacted on tax too much and the limits just served to cause administrative problems.

The comments come in support of figures from Virgin Money, which found that consumers over 50 have more than doubled their investments into share-based Isa accounts.

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