ARTICLE · 12 APRIL 2007

ISAs Get Nicer

Smith & Williamson

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With ISAs set to become permanent and less complicated, we examine the proposed changes and why it’s great news for investors. As at April 2006, there was £111bn invested in Cash ISAs and £70bn invested in Stocks and Shares ISAs. The government is keen to encourage further saving and, in his pre-Budget report in December, the Chancellor announced that Individual Savings Accounts (ISAs) will become permanent.

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With ISAs set to become permanent and less complicated, we examine the proposed changes and why it’s great news for investors.

As at April 2006, there was £111bn invested in Cash ISAs and £70bn invested in Stocks and Shares ISAs.

The government is keen to encourage further saving and, in his pre-Budget report in December, the Chancellor announced that Individual Savings Accounts (ISAs) will become permanent.

These changes were confirmed in the March 2007 Budget when further rule modifications were announced. These will take effect as of 6 April 2008.

This is good news, as ISAs were originally planned to cease in 2010. The proposed changes are also designed to make ISAs less complicated, which is again good news. We’ll take a look at each of these new proposals and see how they’re going to be achieved.

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