“ISAs have been around for over 20 years but could now present the most valuable form of defence and attack against the government’s latest tax grab,” Blick Rothenberg has argued.
The tax and advisory firm said this is due to the personal tax allowance and bandings freeze, announced in the Budget.
Chief executive Nimesh Shah explained: “Tax erodes a person’s wealth and the effect of freezing the various allowances compounds this issue further.
You can contribute £20,000 a year to ISAs. Income and gains generated within the ISA are not taxable and withdrawals are also tax free, although there can be ...