Financial advisors say ISAs help to ease the tax burden
23rd July 2008
Consumers have been warned to ensure their savings are working efficiently by investing their money in an ISA, after research has revealed that 72 per cent of people are unhappy with the current tax system.
Research by Unbiased.co.uk has shown a general concern about tax policies and illustrated the importance of them when people decide to vote.
Tax policies were the deciding factor for two thirds of people when it came to election time, but the site say that rather than blame the government, individuals need to take action.
David Elms, chief executive of Unbiased.co.uk, commented: "When it comes to tax, there are a number of simple steps people can take to reduce the amount the Chancellor takes from them. Time spent filling in a form, or making a will, or ensuring savings are invested efficiently in an ISA, take relatively little time, but will probably be some of the most effective time you will spend this year."
Mr Elms advised those that save to use up their annual ISA allowance, as a whopping £263 million in tax "could be avoided by sheltering investments in ISAs".