David Norton, head of investments at AES International, welcomes the increased ISA flexibility, but warns investors not to take big risks with their savings.
Norton said: “The increased flexibility around making withdrawals from ISAs is going to be very welcome news for many who in the past may have suffered a tax hit when using their money, particularly as savers continue to battle very low interest rates. This initiative is in line with Osborne’s strategy of allowing people more flexibility with their wealth.
“The extension of the investments eligible to be included within an ISA should be viewed as a plus. However, I would urge caution to investors considering making more esoteric choices, as an ISA should generally be seen as a tax efficient savings tool, rather than a place to take risky bets.”
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