Top savers to get tax relief

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The Independent Online
Top savers to

get tax relief

Gordon Brown is to change the Government's new savings scheme to prevent people being taxed retrospectively.

In a move to meet the biggest criticism of the Individual Savings Accounts being brought in to replace Peps and Tessas, the Chancellor of the Exchequer is considering plans to continue tax relief on savings that have been built up beyond the new pounds 50,000 tax-free limit. However, the pounds 50,000 limit will stay for new and existing savers who have not yet reached it.