IMA calls for increased Isa limit

clock

The IMA is calling on the Government to raise the Isa allowance to £9,600 and urges further incentives to boost savings in the UK.

A number of trade bodies have now made calls for the Isa limit to be reviewed and pressure is mounting on the Government to make substantial changes in this year's budget. IFA trade body, AIFA, made an appeal earlier this month while Skandia suggested it should rise to £9,000 to be in line with RPI increases since first introduced. According to the IMA, Isa sales in 2008 fell 15% on 2007, and since 2004, stocks and shares Isa have seen annual outflows. Richard Saunders, chief executive of IMA says: "In part, this can no doubt be explained by the performance of the stock market over th...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Consumer Duty Alliance looks to attract advice industry talent

Consumer Duty Alliance looks to attract advice industry talent

New Talent Alliance will be chaired by M&G Wealth Advice MD Tom Hegarty

Isabel Baxter
clock 27 March 2024 • 2 min read
PA Working Lunches: Register today to hear from SimplyBiz

PA Working Lunches: Register today to hear from SimplyBiz

Join us for an informative session worth one hour of CPD

Professional Adviser
clock 27 March 2024 • 1 min read
FCA warns firms and finfluencers to 'keep social media ads lawful'

FCA warns firms and finfluencers to 'keep social media ads lawful'

Regulator sets guidance for financial services promotion

Isabel Baxter
clock 26 March 2024 • 3 min read