Summary
With a new tax year approaching fast, how many Britons really know what an ISA is? Individual Savings Accounts were introduced back in April 1999 replacing old style Personals Equity Plans (PEPs) and Tax Exempt Special Savings Accounts (TESSAs) Basically an ISA is a tax free savings account in which you can have cash or shares. According to a Royal Bank of Scotland survey, 36 per cent of Britons have cash ISAs but would be savers are still confused by the product.
More worrying is the survey result that found that 24 per cent of those Britons who do have an ISA don't fully understand how the product works.See the full content of this document
Extract
Taking Advantage of Tax-Free Savings Available
This isn't necessarily the incompetence of the client. It really does state the quality of advice given on such a basic plan and perhaps this is reflected ...
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