NS&I boost savings limits

The executive agency of the Treasury says the move comes in response to demand from customers, asking for greater access to tax-free products, which are particularly beneficial to higher rate taxpayers. Currently, higher rate payers can get a shade over 6% gross return on five-year index-linked savings certificates, assuming retail price index inflation of 2.6%. Although easily available, the products attract relatively little investments compared to some NS&I products such as premium bonds. Some £17bn is currently invested in savings certificates, the agency says. IFAonline