Mar 14 2007
Savers who are yet to use their individual savings account (Isa) allowance for the 2006-07 financial year have been reminded that the time available to invest in the accounts is fast running out.
The Association of Investment Companies (AIC) notes that while the April 5th official deadline is less than a month away, many Isa providers have their own deadline set before this date.
Annabel Brodie-Smith, communications director at the AIC, said: "While it's easy to leave things to the last minute, investors should be aware that many investment companies have deadlines well before then, so it's important to act now to avoid disappointment."
She added that using an investment company Isa is a tax-efficient method of gaining the benefits of low expense ratios and independent boards associated with diversified portfolios.
This week, Britannia announced the launch of a new mini cash Isa with a fixed interest rate of 5.85 per cent, with the firm calling on all savers to ensure they make use of their annual tax-free Isa allowance.
