UK savers are paying less taxes on their investments than in the past, according to new research from National Savings and Investments (NS&I).

The research, which canvassed the views of more than 1,000 UK adults, found that people were becoming smarter, and that many were now paying more attention to the taxes they are charged on their savings.

The research found that the number of people who now fail to take tax into account when saving has dropped by 5%.

Women’s awareness increased the most, with a 4% rise among those who say they do take tax into account, and a 7% fall in the number who said they do not consider tax.

Yet NS&I said that more should be done to encourage people to save into tax efficient funds.