Individual Savings Accounts
(asked on 16th July 2015) - View Source
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, if he will establish a tax-free savings vehicle specifically designed to save for funerals.
This question was answered on 7th September 2015
The Government has introduced a range of measures to support savers, including increasing the ISA limit to £15,240, and making ISAs simpler by allowing that money to be held in a cash ISA, a stocks and shares ISA, or split in any combination between the two. The ISA allows individuals to save for a wide variety of purposes, including funeral payments.