Highest ever ISA subscriptions

July 3, 2007

The 2006/2007 tax year has seen the highest ever total subscribed to ISAs at over £33bn, according to figures just released from HMRC.

And the recovery in the Stock Market is clearly being marked by savers who last year invested £10.36bn in stocks and shares ISAs – the highest investment in this component since 2002.

ISAs are now held by around 20m savers who have invested around £300bn.

Director General Tony Vine-Lott said:

‘While there are headlines claiming the savings ratio is at its lowest ebb, we can see from official HMRC figures that ISAs are booming. The 2006/07 tax year was a record – showing that tax incentivised savings remain hugely popular with millions of people. TISA will be looking to ensure the popularity of ISAs remains high on the public policy agenda..’
An analysis of the HMRC statistics showing amounts subscribed to ISAs in the final quarter of 2006/7 is now available from the TISA website. They show numbers of accounts subscribed to and the amounts subscribed.

http://www.tisa.uk.com/statistics.htm

For more information:

Tony Vine-Lott, Director-General, TISA
07790 006108

Iain Anderson, Cicero Consulting
020 7665 9532
07785 507045