Stocks and shares ISAs attracted record subscriptions during the 2015/16 financial year despite "low levels" of investor confidence due to rock-bottom interest rates.
HM Revenue & Customs (HMRC) said more than £80bn was sheltered in ISAs during the financial year. Almost £21.5bn went into stocks and shares ISAs with a record average subscription of £6,338. While nearly £1bn has been subscribed to 738,000 Junior ISA accounts, the overall number of adult ISA subscriptions is down from 12,999 accounts in the 2014/2015 tax year to 12,657 this past year. Though this was a "modest" drop, Hargreaves Lansdown senior analyst Laith Khalaf attributed this to a number of potential factors. "One of the reasons might be that it's been a pretty choppy market. ...
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