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The theroetical benefit of the ISA is that once the money is in the ISA, every year of gains/interest will be tax free afterwards (assuming Labour don't move the goalposts). The interest on your savings accounts (or gains on stocks and shares) outside an ISA would be taxable every year.
If your savings are pretty static and you know the level of interest you are generating you might not be worried. If you are looking to increase your savings then getting it into a tax-sheltered ISA might be beneficial. For stocks and shares its a bit of a no-brainer because why run the risk of getting taxed when you don't need to (again, assuming Labour don't change the rules)? But for cash savings products its a bit more complicated because the bonus savers rates might be higher than a cash ISA, which might negate the tax you would pay.
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jamesl
They can come after me. The piddling amount I earn in interest wouldn't cover postage of the tax bill.