New rules on the management of individual savings accounts (Isas) will encourage more people to put money away for the future, one expert has claimed.
Tony Vine-Lott, director general of the trade association TISA, explained that the fact that people are now able to transfer cash Isas in to stocks and shares Isas will help people who are currently worried about the state of the world's financial markets .
He said: "We continue to be optimistic about Isa savings in this tax year.
"The best thing about the Isa regime is the choice of investments and cash products - from UK and overseas equities to corporate bonds and gilts - which they can invest in directly or through collective investments."
He added that people in the UK should make sure that they take full advantage of their Isa allowance before the end of the tax year.
People should contact their independent financial advisor or financial provider immediately to discuss their options, he concluded.
Last week, research by Virgin Money found that cash-based Isas are almost three times more popular than share-based Isas.
New rules will boost Isas, expert claims
New rules will boost Isas, expert claims
Mon, 31 Mar 2008
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