Nine out of ten in the dark over tax-free ISA figures

ONLY one in ten people know how much they can save tax-free into an ISA each year, a survey showed today.

Just 11 per cent of people know what the current annual ISA allowance is – 7,200, up to 3,600 of which can be paid into a cash ISA – while only 9 per cent were aware of what it would increase to on April 6, according to Lloyds TSB.

Four out of 10 consumers also did not realise that you lose any unused annual ISA allowance at the start of the new tax year.