Dec 22 2006
A building society has announced that it pre-empted the recent pre-Budget statement by Gordon Brown with a decision to enable fund transfers within individual savings accounts (Isas), which may help children saving for their future, earlier this month.
Britannia notes that its newly launched guaranteed capital bond mini cash Isas accept transfers between the fund.
Tim Franklin, managing director of member business at Britannia, notes that while the stock market is inherently unpredictable, without an assurance of receiving one's original investment, that the firm's Isas had no risk to the starting capital.
"Britannia's guaranteed capital bond Isas ensure you can invest your savings for a long period, protect your original investment and still potentially get a good return tax free."
Last month, economic secretary to the Treasury Ed Balls announced that 16 million people in the UK have an Isa, while more than two million children have a child trust fund account.
