Every adult in the UK should have an individual savings account (Isa), it has been claimed.
Roy Beale, media relations officer for Nationwide, explained that as they are a tax efficient savings account, Isas can benefit everyone.
He said: "There are very few opportunities in this world to avoid paying tax, but saving or investing in an Isa allows you to do just that."
Mr Beale added that Isas are very easy to understand and that more should be done to encourage people to make full use of their yearly allowance.
Tax efficiency is the number one reason people should look at taking out an Isa, he concluded.
A number of changes to the way Isas operate were introduced at the start of April this year.
These include an increase in the limit for cash Isas from £3,000 to £3,600 and for stocks and shares Isas from £7,000 to £7,200.
People urged to take out an Isa
People urged to take out an Isa
Tue, 15 Apr 2008
Recommended links
UK savings accounts portalSavings enquiry form
Savings - top providers for today
Isa guide - an introduction
Types of Isas
Benefits of an Isa
Isa providers
Cash isa deals
Equity isa deals
Call for further Isa changes
Cash Isas more popular, survey shows
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