Putting money into an Isa savings account as early as possible in the tax year can potentially see savers gaining an extra £5,500.
According to the mutual fund manager Fidelity International, if an investor put their full £7,000 into their Isa savings account early on in the year, savers could be saving an extra £500 every year, which is the equivalent to six per cent higher returns.
This means that in the last decade, savers investing in Isa savings accounts could have netted themselves £5,500 in extra savings.
According to Doug Naismith, director of European personal investments, Isas have been gaining in popularity, with him claiming that the 2005/06 tax year was a "truly bumper year" for the sale of Isas.
"However, it's important that investors don't just forget about Isas now the spring is coming," he adds.
"While we believe that for most investors there is generally little to gain in attempting to time the markets, planning ahead early to the next tax year, while remaining invested over the long term, could maximise returns," he recommends.
Such is the popularity for Isa savings accounts, Independent Financial Advisors Promotion (IFAP) have recently found that in the first quarter of 2006 there was a 22 per cent increase in demand for independent financial advice.
Invest early to reap rewards of Isa savings account
Invest early to reap rewards of Isa savings account
Thu, 20 Apr 2006
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