Saving gracefully: Capital’s citizens first in Isa league table

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Savers in Edinburgh are more likely to use their annual individual savings account (Isa) allowance than those in any other city in the UK, an annual study has found.

It’s the second successive year in which the Scottish capital has come out on top, while savers in the City come second only to those in south-west London when it comes to putting money into junior Isas.

Glasgow and Dundee also feature in the top ten of United Kingdom cities where savers have taken full advantage of the tax break offered by Isas, the research by Alliance Trust Savings shows.

But by failing to use their annual Isa allowance, many Scots are unnecessarily paying tax on their savings, according to Bank of Scotland.