Industry lobbies Brown over Isa tax credit

The AITC, Pima, IMA, Apcims Aifa and Proshare have written a joint letter to Chancellor Gordon Brown...

The AITC, Pima, IMA, Apcims Aifa and Proshare have written a joint letter to Chancellor Gordon Brown urging him to retain the 10% tax credit that equity Isas receive on dividend distributions. The letter states the Government's plans to abolish the tax credit from April 2004 will mean that equity Isas only remain attractive to higher rate tax payers because those on lower incomes will have less incentive to invest in equity Isas.