Mar 31 2008
Prudential has predicted that there will be a last minute rush across the UK to open up individual savings account (Isa) before the end of the current tax year.
There are still a few days before the tax-emption capacity of Isas are lost for another year and many consumers are expected to take advantage of the possibility with little time to spare.
Prudential bases its assertion on the fact that around 17 per cent of all last year's Isa sales were made during the final few days before the tax-exemption date expired.
Many parents around the country use Isas as a way of saving for children and both cash-based and equity linked products are still on the market.
"[If savers] are nervous about having too much exposure to equities, they can opt for funds that invest in a more diversified range of assets including cash, bonds, property and also equities," explained Gary Shaughnessy, a savings expert at Prudential.
Last week, Scottish Widows urged parents around the UK to teach their children about savings and financial management as early as is reasonably possible.
