Savers urged to use "ISA weekend"
By myfinances.co.uk staff
Anyone who has not yet completed their ISA application for 2009-10 should aim to get it finalised over the weekend of March 27th and 28th or risk missing out on tax-free savings, it has been claimed.
Fidelity International said that it received 34% of its ISA applications for 2008-09 in the final week of the financial year, with 24% coming in during the final two days.
The company warned that individuals leaving it so late this time around could face disappointment as Good Friday falls on April 2nd, while Easter Monday is April 5th, which leaves providers with less time to process claims and transfers.
Based on last year's figures, Fidelity International said that savers in London are the most likely to face a rush to set up their ISA before deadline day, as 24 per cent of their applications were received in the final week of 2008-09.
Rob Fisher, the firm's head of UK personal investment, commented: "The way this year's Easter bank holiday falls means that the new financial year is coming round much sooner than you think."
Total ISA investment is expected to top £40 billion in 2009-10, according to Clydesdale and Yorkshire banks.
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