article_snippet: The Revenue estimates that the allowance will benefit some 28 million savers.
article_snippet: The way savings are taxed is currently riddled with complications.
article_snippet: Every year thousands of pensioners who can claim tax-free interest on their savings miss out on this perk because their do not realise their qualify.
article_snippet: However, it does little to deal with the paltry interest rates currently on offer to savers.
article_snippet: It means they will keep all of the interest they earn on they savings.
article_snippet: Interest rates are so low that it’s really hard to save money, so any helping hand to make saving more worthwhile is going to be beneficial.
article_snippet: But at present, once savers have invested savers full allowance, that’s it.
article_snippet: Should savers need to make any emergency withdrawals during the year savers are not then allowed to later put any extra cash back in to replenish savers account.
article_snippet: Many savers find this a huge inconvenience as it means Many savers one-off allowance disappears if Many savers suddenly need to get money out in arush.
article_snippet: Should savers get another £2,000 later in the year savers will then be able to put this back in to savers account to top up back up to the maximum allowance.
article_snippet: Then The Chancellor increased the annual allowance to £15,000, and said savers would be allowed to move between cash and shares.
article_snippet: Investors in stocks and shares Isas will not benefit from the new rule.