Investors encouraged to make use of tax-free savings
Investors have been encouraged to take advantage of tax-free savings offers sooner rather than later.
Research conducted by Barclays Stockbrokers - the largest execution-only online stockbrokers - revealed one-third of people with an ISA planned to add a lump sum to their account at the beginning of the new tax year, which was yesterday (April 6th).
In addition to this, it found individuals are taking action to diversify their portfolio, in light of the low rates of interest currently on offer.
Vice-president of the bank Catherine Penney stated those who act earlier in the year can protect their cash from tax for longer.
"Combining an Investment ISA with a Self-Invested Personal Pension allows investors to be in complete control of their investments whilst also managing the tax they pay," she advised.
Ms Penney added to ensure returns are maximised it is important for people to take full advantage of their allowances.
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