ISA sales improve due to rise in annual allowance

ISA sales may hit a record high this year due to the rise in the annual allowance investors can pay in to the scheme each year. Last October the government increased the yearly ISA allowance for over-50s from £7,200 to £10,200. This year the new rule was extended to under 50s as well, which sparked a doubling in net sales of stocks and shares ISAs to £4.6 billion, according to the Investment Management Association (IMA).