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Press Release

For immediate release: Thursday 1 February 2007

IMA COMMENTS ON HM TREASURY ISA ANNOUNCEMENT

Commenting on today's announcement that changes to the ISA regime will not come into effect until April 2008, Richard Saunders, Chief Executive of the IMA said:

"We welcome the Treasury's decision to defer the changes to the ISA regime until 2008. IMA members overwhelmingly provided feedback suggesting the 2007 deadline was insufficient time to implement the new systems required.

The Association is, therefore, supportive of the view taken by the Treasury and, in particular, we welcome the announcement that further consultation will take place when the draft implementing legislation is published around the time of the 2007 Budget."


-ENDS-

For further information, please contact:
Helen Stephenson, Communications Officer, IMA, 020 7831 0898

Out of hours contact:
Mona Patel, Head of Communications, IMA, 07834 089332

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