Stocks and Shares Isa is Moneywise users’ top pick for savings

Published by Helen Knapman on 17 January 2018.
Last updated on 17 January 2018

Stocks and Shares Isa is Moneywise users’ top pick for savings

Stocks and Shares Isas are the most used Isa in this tax year among Moneywise.co.uk users, our recent poll results reveal.

When we asked, which, if any, Isas have you used over the 2017/18 tax year, nearly a third (32%) said they’d only used a Stocks and Shares Isa.

This was followed by nearly a quarter (24%) who’ve only used a Cash Isa, and 17% who use a mixture of different Isas.  

The findings echo the results of a similar poll we carried out in October 2017, which found that Stocks and Shares Junior Isas (Jisas) were the most popular savings vehicle for children – beating Junior Cash Isas.

In the 2016/17 tax year, the amount of money invested in Stocks and Shares Isas overtook the amount deposited in Cash Isas, according to data from HM Revenue & Customs.

This decline in Cash Isa savings is likely to be attributed to poor cash savings rates and the introduction of the personal savings allowance in April 2017.

Interestingly, Innovative Finance Isas – used for peer-to-peer lending – don’t appear to have taken off, with just 3% of those who voted in our poll only using this savings vehicle.

Help to Buy Isas, Lifetime Isas, and Junior Isas also proved unpopular as standalone savings vehicles, although it could be that readers utilise several of these different Isas in their savings portfolio.

If you want to use your £20,000 tax-free Isa allowance, ensure you do so before the end of this tax year on 5 April – if you don’t use it, you lose it.

See the full poll results in the pie chart below.

Nutmeg Stocks and Shares ISA

Advertisement
  • Special 3 months no portfolio management fee offer  
  • Best Online Stocks & Shares ISA Provider by Your Money 
  • Start with as little as £500 and £100 a month
  • No tie-ins, no set-up fees, no exit charges

 Capital at risk. This is an advertisement for Nutmeg Saving and Investment Limited. Nutmeg is paying the publisher an award for promoting their services on this site and for new customers received. 

Leave a comment