With savers rushing to meet this weekend’s tax year-end deadline, data from research and insight agency Opinium revealed that 49% of IFAs believe a cut to the Cash ISA allowance or removal of current ISA allowances would prompt clients to move more money into investments.
The annual ISA allowance currently stands at £20,000, but the chancellor Rachel Reeves is rumoured to be considering a cut to the Cash ISA allowance in a bid to shift savers from cash into stock market-based investments. Less than one in five (17%) IFAs think their clients would be less likely to move money into investments if the rumours came true, Opinium's research showed. According to its latest IFA Barometer, when asked what, if anything, would encourage their clients to begin investing, or invest more, in a Stocks and Shares ISA, 58% of IFAs think that increasing the annual IS...
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