TISA notes popularity of Isas

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TISA notes popularity of Isas

More people are embracing the benefits of putting their savings into cash Isa products, a spokesperson from the Tax Incentivised Savings Association (TISA) has said.

Tony Vine-Lott called the tax-free, high interest accounts "a savings success story" and said a growing number of Britons are beginning to use them to save for short-term goals such as household products or more long-term aims like retirement.

He explained that as people are able to further reduce their debts on credit cards and loans, they should be in a better position to make increased use of cash Isa products, with £350 billion already stored in them in the UK.

"New developments like the proposed Junior Isa and the Workplace Isa concept will, I am certain, also increase the accessibility and appeal of Isas," Mr Vine-Lott added.

The TISA works alongside HM Revenue & Customs and other regulatory bodies to improve the quality of savings and investment schemes in the UK.

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