The Associations (BSA) has called for further changes to the way in which individual savings accounts (Isas) operate.
From April, people will be permitted to transfer a cash Isa to a stocks and shares Isa, but switching the other way will not be allowed - something that could cause big problems, the BSA claimed.
Adrian Coles, director-general of the BSA, said: "We urge the government to look at our concerns and allow transfers from stocks and shares to cash Isas .
"The one-way-only transfer means consumers cannot rectify errors of bad judgment or advice and still retain their tax exemption."
He added that allowing two-way Isa transfers will also assist those on lower incomes .
Yesterday, Nationwide urged people to make full use of this year's tax-free Isa allowance or lose it forever.
This year, people can invest a total of £7,000, increasing to £7,200 per tax year from April 6th.
BSA calls for further Isa changes
BSA calls for further Isa changes
Fri, 07 Mar 2008
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