ISA sales reach highest ever level after increase in personal allowances

first_img Monday 4 October 2010 8:53 pm Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap whatsapp ISA sales reach highest ever level after increase in personal allowances Tags: NULL ISA sales more than doubled in the last year rising to a record figure of £400m a month taking the total sales figure to £14.6bn for the year, the Investment Management Association (IMA) said yesterday.The figures showed ISA sales had reached their highest level since they were launched in 1999 as savers showed a renewed enthusiasm for investing in stocks and shares ISAs in particular. The IMA said this was largely as a result of the increase in the annual tax free personal allowance from £7,200 to £10,200.Meanwhile, an IMA survey of over 2,000 savers found almost half (47 per cent) of savers would invest more into an ISA if the annual allowance was increased further. Just over a third of savers (36 per cent) said they would invest more if long term savings incentives remained consistent, while 44 per cent said they would invest more if there was a lifetime tax-free ISA allowance. The findings could cause a headache for the government which is believed to be considering lowering the personal allowance. Labour MP? and Treasury Select Committee member, Andy Love, suggested at a fringe event at the Labour party conference last week that the coalition government was considering the move as part of the comprehensive spending review due in a fortnight whatsapp Share Show Comments ▼ KCS-content last_img

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