IMA hails latest Isa reforms

The Investment Management Association (IMA) is urging investors to take advantage of ISA reforms as s...

The Investment Management Association (IMA) is urging investors to take advantage of ISA reforms as soon as they come into force. The changes, which will be introduced on 6 April 2008 are aimed at simplifying the regime. In an attempt to encourage people to save in tax-free Isas, the Economic Secretary to the Treasury Kitty Ussher laid regulations that will abolish the current distinction between mini and maxi Isas. The annual Isa allowance of £7,200 or £3,600 can be saved in cash, with the rest invested in shares through the same or a different provider. Under the changes, savers will ...