Barclays stockbrokers sees ISA surge Print
News - Latest
Wednesday, 13 June 2012 16:24
Barclays Stockbrokers saw a strong start to the new tax year (2012/13) with a “substantial” increase to ISA contributions in the first six weeks of the tax year.

The company saw ISA contributions increase by 23% compared to the same period in 2011, with ISA assets transferred in from other providers to Barclays Stockbrokers increasing by 17% year on year. Clients were also focusing on their retirement planning, with a 28% increase on pension assets flowing into SIPPs during the same period.

Catherine Penney at Barclays Stockbrokers, commented: “Over recent years our clients have increasingly been investing at the beginning of the new tax year to benefit from the tax protection over the full year, rather than just at the end.

“As they take responsibility for their own retirement planning and want control over how these savings are invested, they have become quicker to make use of their tax efficient allowances to ensure that they maximise the returns from their investments.”