Jan 10 2008
The start of a new year means the tax-year in the UK is almost three-quarters over and with this in mind the Scarborough Building Society is aiming to highlight the potential of its tax-free savings products.
Individual savings accounts (Isas), which many parents use as a method of saving for children, benefit from a tax-free status and Scarborough is urging Britons to make full use of their respective allowances.
The building society has a number of Isa products available and has now launched new branch notice and direct notice Isa options, which will each pay out a starting interest rate of 6.3 per cent.
Dave Wormall, head of group marketing, said: "As we are now three-quarters of the way through the current tax year, we felt this was a good time to remind people of the importance of maximising their tax-free savings allowances.
"That's why, in line with our mutual commitment to offering long term good value, we've launched these market-leading new accounts."
Meanwhile, almost half of all British parents with children born after September 2002 are contributing regularly to a child trust fund, according to figures from the Children's Mutual.
