New ISA comparison platform to simplify tax-free investing

An online platform aiming to simplify the process of identifying the best ISAs (individual savings accounts) has launched.

ApplesforOranges.co.uk allows those looking to invest up to £20k to compare the best tax-free ISA products currently on the market, identifying the most suitable option based on the terms of the investment and the returns available.

The website was created by Manchester-based digital agency The Hive Circle.

James Dean, a spokesperson for ApplesforOranges.co.uk, said: “If you take the definition of Apples for Oranges and apply it to the individual savings account space, our mission becomes clear.

“Individual savings accounts have become an increasingly popular way of saving money because the tax-free savings on them offered by the Government really are a fantastic way of maximising your money, but we have found that people do not understand the full extent of the options available in the market.”

He continued: “All types of ISAs will still fall under the tax-free wrapper set out by the government, but when comparing a Cash ISA to an Innovative Finance ISA, you are really comparing apples to oranges, because they are so different.”