Sep 11 2008
Setting money aside in an individual savings account (Isa) is "one of the smartest ways to save", a senior marketing executive has asserted.
According to Steve Urwin of Newcastle Building society, people should make the most of their annual Isa allowance and ensure they choose a savings plan in line with their personal needs - such as instant access to investments or guaranteed high rates.
""Even though Isa savings surged by £13 billion in the first half of 2008 compared to £6.1 billion in the same period in 2007, many people are still not taking advantage of their annual ISA allowance, which can be one of the smartest ways to save," he said.
Earlier this week, Unbiased.co.uk stated that a collective £263 million in tax could be saved by keeping investments in Isas or transferring savings account balances or deposits into an Isa.
The site further asserted that more tax savings can be made by taking advantage of the child trust fund scheme, which could save a combined £242 million.
