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76% say they will not invest in cash while base rate remains at 0.5%
There has been a surge in the number of Brits looking to change their residence or shift their money abroad before the new tax year.
Over 50s will get first crack at the new £10,200 ISA allowance, with everyone forced to wait until next tax year.
Many ISA providers close their doors to new investments long before the official April 5 deadline. Make sure you aren’t caught out.
The tax-free ISA allowance must be increased next month in order to keep up with inflation, according to the Investment Management Association.
Thousands of savers who rushed to beat last year’s ISA deadline will see their rates plummet in the coming weeks as their ‘bonus rate’ expires.
Demand for stocks and shares ISAs has increased 67%, according to one stockbroker, as Brits tire of record low savings rates.
You’ve scrimped and saved to put a little bit away for a rainy day. You’ve forgone fancy cars, expensive restaurants and flashy foreign holidays for old bangers, bargain buckets and the occasional weekend in Bognor.
Gordon Brown has hinted that he could raise the tax-free allowance to help pensioners hit by plummeting savings rates.
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