ISA take-up reaches an all-time high..
PIMA is delighted by year-end results which show the ISA even more popular amongst consumers. Statistics published by the HMRC show that more people are buying ISAs and overall contributions are at their highest ever level at nearly £31bn.
Britons subscribed to over 12 million ISA accounts last year.
The total amounts subscribed to stocks and shares ISAs rose 18.3% to nearly £8.9 bn—18.3% above last year’s totals. Investment in mini-stocks and shares ISAs were up a tremendous 37% above last year’s levels. Purchase of cash ISAs rose 7% to 9.9 million accounts with nearly £21.8 bn subscribed.
The full breakdown of all ISA subscription statistics can be found at the PIMA website:
http://www.pima.co.uk/statistics.htm or at the HMRC website: http://www.hmrc.gov.uk/stats/isa/menu.htm .
PIMA Director General Tony Vine-Lott said,
‘This was a fantastic year for ISAs. More consumers than ever are turning to the transparency, simplicity and flexibility of saving through ISAs. It is particularly encouraging that more investors are choosing to grow greater amounts of their tax-free savings via equity exposure. We expect uptake of all ISAs to continue to be strong throughout the next year.’
For more information:
Tony Vine-Lott, Director-General, PIMA
07790 006108
Iain Anderson or Jacob Coy, Cicero Consulting
020 7665 9535
079 0039 2531