Moneywise users add to investments before tax year close

26 March 2018
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Six in 10 (61%) Moneywise.co.uk users have made or plan to make an investment before the end of the tax year on 5 April.

According to our latest poll results, a quarter (25%) of people will be adding to existing investments before the 2017/18 tax year closes.

A further 6% plan to invest for the first time this tax year.

Meanwhile, just over one in two (21%) have already added to their existing investments this tax year, and an additional 9% have invested in a new investment.

A further 7% say they’d like to invest but don’t have enough knowledge.

At the other end of the scale, one in two (20%) say they won’t invest this tax year as they’d rather keep their money in a low-risk cash account, while 9% won’t invest as they’re worried about losing some or all of their money.

The Financial Services Compensation Scheme (FSCS) covers up to £85,000 of cash savings per financial institution.  

Investments are also covered by the FSCS, but only up to £50,000 of investments in a firm that has gone into default. Investment performance isn’t protected by the FSCS unless it’s related to poor advice being given.  

See the pie chart below for the full poll results.

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