- ISA contributions increased by 23% in the first six weeks of new tax year
- Pension assets invested into SIPPs increased by 28%
Barclays Stockbrokers, the UK’s largest execution-only retail broker, today announces 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*; up 23% compared to the same period in 2011.
Barclays Stockbrokers clients made the most of their tax efficient allowances as soon as the new tax year started and the analysis found that ISA assets transferred in from other providers to Barclays Stockbrokers increased 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.
“At Barclays Stockbrokers we offer clients a strong investment proposition and have seen proactive clients adding new funds to their SIPPs as well as transferring existing pension assets to us. By consolidating their investments and taking advantage of the ability to manage their entire portfolio conveniently from one place, investors have a single portfolio view, where they can see everything online, in real time, and at any time of the day or night. With the launch of our regular investment service investors can choose to add lump sums or drip feed sums into the market over time to build up their investments and maximise the tax efficient benefits.”
*06 April – 19 May 2012