£2 Billion Cash Isa Robbery: Banks Swipe Tax Breaks Meant for Their Interest-Starved Customers
Thursday, 20 September 2012 09:23
Posted by David Icke
'Today Money Mail can reveal how savers are missing out on up to £2?billion interest a year because banks and building societies are failing to pass on cash Isa tax breaks.
Some of Britain’s biggest High Street names are routinely denying cash Isa savers the best rates by paying a better rate on ordinary savings accounts, where interest is taxed, than on untaxed Isas. In doing so, they are effectively stealing the tax relief to line their own pockets.
This robbery is depriving each cash Isa saver of as much as £612 a year extra interest.'
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