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IFA in online campaign for Isa review

IFA Torquil Clark is teaming up with financial services website UK-invest to campaign for a Government review of Isas.

The firms plan to send the results of an online questionnaire to the Treasury towards the end of the month.

The survey asks online investors to voice their opinions on Isas and assess their success in comparison with Peps and Tessas.

Chancellor Gordon Brown promised a review of Isas in his March Budget but there has been no further announcement.

Torquil Clark head of e-commerce Mike Attree says Isas could be simplified by ditching mini and maxi Isas in favour of a single product. He says: “Isas are pretty complicated and we would like to see them simplified. They are an improvement on Peps and Tessas but by combining those two they have made it more complicated.”

UK-invest managing editor Alicia Wyllie says: “Labour promised that Isas would revolutionise savings in Britain and encourage people to save for their own financial futures. If this hasn&#39t happened, we would like to encourage politicians to make the necessary changes to turn Isas into a real success story.”

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