ISA Inertia? You’re not alone

Barclays press release -------- ISAs have been around since 1999, and despite increasing levels of awareness and understanding, particularly for cash ISAs, there are still numerous reasons why millions of savers are failing to take advantage of this valuable tax-break, according to independent research commissioned by Barclays. Despite tax year end looming on April 5th, 39 percent of people surveyed do not currently have any type of ISA, and have no intention of opening one before the deadline. According to the research, of the 43 percent of people who don’t currently have or intend to open a cash ISA, four in 10 (41 percent) said that it was because they didn’t have enough disposable income to consider opening one. A fifth (17 percent) said they had other financial commitments, and one in 10 said they hadn’t opened one because they believed they wouldn’t be able to access to their savings when they needed them, unaware that some ISAs do allow you the flexibility to dip into your ISA savings, and then to top it back up in the same tax year. To learn more click on the picture below to read the release.