Use it or lose it B&B warns on tax free saving

Three quarters of savers in the UK are missing out because they are failing to take advantage of tax breaks available on their savings, says Bradford & Bingley.

While 61 per cent of all adults in the UK have a savings account, only a quarter are taking full advantage of the best savings account rates available under “tax efficient” savings.

And with the end of the 2005-06 ISA season looming on April 5th, Bradford & Bingley is encouraging savers to keep their cash from the tax man before it’s too late.

“Making sure you’re getting the most out of your money should be a top priority for savers,” said Steve Potter of Bradford & Bingley.

“However, as our research demonstrates, people are still missing a trick. The difference between investing in an average savings account or in a competitive ISA can be up to £78 per annum. If you’re investing over the medium to long term, it really adds up.”

“It really couldn’t be easier for savers. They can open an account with a lump sum or a direct debit, in a branch or online,” he added.

© Adfero Ltd

Leave a Reply

Your email address will not be published. Required fields are marked *