Equity ISAs 'worth considering'

Thursday, 24 March 2011 11:39

Consumers need to fully utilise the maximum ISA allowance available to increase tax efficiency, it has been suggested.

According to moneysupermarket.com, with interest rates low and inflation high, savers could be missing out on better returns by not investing in stocks and shares ISAs.

Equity ISAs carry more risk than cash ISAs, but savers can invest up to £10,200 per tax year, rising to £10,680 on April 6th 2011.

Philippa Gee, investments spokesperson at moneysupermarket.com, suggested that although some people may be cautious about taking out a stocks and shares ISA, they are in fact a great option for anyone who has some money to put aside.

She said: "There are significant advantages to keeping savings away from the taxman and there are plenty of funds to choose from."

Ms Gee added that although the process of choosing a product may seem complicated, savers should not be put off as a vast amount of information is available to inform the decision.

Use the Myfinances.co.uk comparison tables to find the best deal on an ISA 

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