Jul 3 2007
Investments into individual savings accounts (Isas) were worth more during the 2006-07 tax year than in any previous 12 month period, it has been revealed.
With thousands of UK consumers aiming to make the most of their savings, Isa investments were worth a total of £33 billion during the most recent tax year, figures from HM Revenue and Customs have shown.
And this demonstrates that the Isas remain an important part of many people's savings plan and the various products available are currently booming in popularity, according to the Tax Incentivised Savings Association (Tisa).
Director general of Tisa Tony Vine-Lott said: "The 2006-07 tax year was a record - showing that tax incentivised savings remain hugely popular with millions of people.
He added: "Tisa will be looking to ensure the popularity of Isas remains high on the public policy agenda."
Tisa claims that it was part of a successful lobbying effort that convinced the government of the need to simplify some of the regulations relating to child trust funds.
