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In other words 'do not give the government the tax on the interest received on your hard earned savings - keep it (and this is hard to believe) with the government's blessing'.

Yes, the current tax year is coming to an end and there are only a few days left to use up this year's ISA allowance. So, if you normally pay tax, place up to £3,000 into a Cash Mini ISA before the 5 April. (I can hear you saying "Yes, it may be good advice but I just don't have £3,000 available") Therefore, the next good advice would be - if you hold savings on which you pay tax, then why not transfer some of it into an ISA? Unless you choose a fixed rate ISA, your money is accessible for emergencies - although, of course, financially it usually makes sense to leave the money in the tax-free high interest ISA and withdraw money from other taxed savings.

A timely reminder - you cannot carry the allowance for this year over to the next year, so unfortunately as we have mentioned before

'If you don't use it - then you will lose it!'

Also if you are a married couple, then there is an allowance of £6,000 that you can place out of the taxman's reach.
Points worth bearing in mind - if you are a basic rate taxpayer and invest in an ISA offering 5% interest, in order to receive a comparative amount of interest outside of an ISA, you would have to find a savings account offering 6.25% and if you are a higher rate taxpayer you would need to find one paying 8.33%. Yet, amazingly, three-quarters of adult savers do not bother to put their savings into an ISA account.






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