UK Money News
25th February 2008
Brits missing out on ISAs
About 90 per cent of UK savers are not taking full advantage of the benefits of ISAs, research from Lloyds TSB Savings has shown.
Research by the bank showed that just eight per cent were found to have taken out both cash and stocks and shares ISAs.
Almost half (46 per cent) said that they had no ISA at all.
Switching of providers was also foud to be low with just 13 per cent saying that they had changed their ISA provider.
A total of 26 per cent said that they "could not be bothered" to change providers - and only 27 per cent knew that it was even possible to do so.
Commenting on the findings, financial expert and TV star Alvin Hall said: "If you've got the funds to invest in an ISA and you're not doing it, it's like throwing away free money.
"With the tax year end approaching, now is the time to use it or face losing the tax-free benefits altogether."
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