/24-7PressRelease/ - LONDON, UK, September 30, 2007 - If you are paying high tax rates on your savings, you can check with some building society and invest in an individual savings account. Many people are unnecessarily paying high tax rates on their savings merely because they do not have all the information about individual savings accounts and the fact that how they can help cut their tax bills.
According to a leading Building Society, around 48 per cent of adults across the nation have never opened an ISA and 30 per cent of these people are oblivious of what they are and how useful they can be. Neville Richardson, chief executive of the Britannia Building Society said: "Our research reveals that there are many misconceptions about ISAs and people just don't understand how they work. It's a shame that many of those who are saving are unnecessarily being taxed twice - firstly on their income and then again on their savings."
There are about 59 building societies in the UK. Building societies lend to housing associations which, in turn, help in improving the quality of the existing social housing stock. These societies also provide secured loans and home loans to borrowers. Over two and a half million adults are currently buying their own homes with the help of loans provided by these societies. For additional information on the news that is the subject of this release (or for a sample, copy or demo), contact Webmaster or visit http://www.loans-park.co.uk/
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