PBR: Missed opportunity for ISAs - Neptune

The government has missed an opportunity to revisit the 10% tax credit on equity ISAs, Neptune Investment Management says.

Deputy managing director Richard Green says more could have been done in Chancellor Alistair Darling's Pre-Budget Report (PBR) to encourage investors to save into their ISAs. Green claims ISAs are now the preferred tax-efficient savings vehicle for long-term savers and is calling on the Government to restore their tax-free status. He adds: "Since 1999 the government has made the ‘tax credit' deducted at source non-reclaimable. Consequently, for many investors who may not pay CGT anyway, the tax-free benefit is largely illusory. "We strongly encourage the government to revisit ...