‘THE number of people looking to save income in a tax-free bolthole is expected to reach record levels this year, city-based bank Intelligent Finance said.

It predicts that almost 13 million people will look to stash cash in an individual savings account (Isa), with the bulk looking to invest in a mini cash Isa.

According to IF, research conducted on its behalf, together with government figures on Isa take-up for the first half of the current financial year, pointed to a record 12,928,000 Isas being taken out in the 2005-6 tax year. Mark Parker, managing director at the phone and online bank, said: “This would smash the record year 2002-3, when almost 12.5 million Isas were taken out.’

Read more at Record number of savers look to stash cash in tax-free Isas

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