Scottish Widows: 50% discount on lump sum ISAs

04 April 2006
Life, pensions and investment company Scottish Widows has announced a 50 per cent discount on the initial charge for opening a lump sum ISA.

With the tax year set to tick over on April 5th, it is thought many investors who are looking to use up this year's tax allowance at the last minute will be swayed by special or limited offers such as this.

Scottish Widows, part of the Lloyds TSB group, has announced that the 50 per cent discount will be valid until the end of April, so investors who have used up this year's allowance already can also take advantage.

Anne Young, a savings expert from the company, said: "According to a recent Scottish Widows report, 62 per cent of adults save little or nothing."

Ms Young continued: "Whether as a first step towards a savings habit, or as a method of minimising your tax bill on investments, ISAs simply can't be ignored.

"Investors should act now to take advantage of their annual ISA allowance and our offer of a 50 per cent discounted initial charge."

Scottish Widows is one of the most recognisable investment companies in the industry, according to a MarketMinder poll in 2004, and having been founded in 1815 is also one of the oldest. As of March 2005, it manages over £80 billion in client funds.

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