ISA popularity takes tax-free savings to the masses

Another reason that you may want to consider opening an ISA is that from April this year

, the amount you can put into an ISA was raised from 7,200 to 10,200. This new allowance was introduced by former chancellor Alistair Darling, who said the plan was to build on the success of the product. "I'm determined to help savers, because while low interest rates have helped millions of homeowners, I also know that they have hit those who rely on their savings to get by. This is why I am increasing the ISA allowance for all over-50s by 3,000 to 10,200 and from April next year for all savers," he explained.

ISA popularity takes tax-free savings to the masses

By: Leon mellor

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