TISA wants advice overhaul to reach 38m unadvised savers

Savings trade body TISA has called for the 38m unadvised UK savers to be given access to 'personalised' guidance from financial providers to avoid them being 'left behind.'

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LISA early withdrawal penalties triple to £33m

 

Lifetime ISA (LISA) early withdrawal charges rose by more than 300% to £33m in the 2020/21 tax year, according to a Freedom of Information request.

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'Astonishing' 4 in 10 high earners shun ISAs

The latest data from HMRC reveals an “astonishing” 40% of high earners failed to take out an ISA in the 2018/19 tax year.

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38m have saved more during the pandemic 

More than seven in 10 adults (38m people) say that in the last 12 months their household has saved money as a result of reduced spending due to Covid-19, with 4.4m of households saving over £10,000 each.

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