Still time to benefit from Tessas
Article Abstract:
United Kingdom tax-exempt special savings accounts (Tessas) will cease to exist from April 1999, but investors can still take advantage of Tessas before this date. Tessas are to be replaced with individual savings accounts (Isas) which are less generous in terms of the amount that can be saved free of tax. Smaller institutions have often performed well in terms of returns to savers, but investors only have 90% of their capital guaranteed if the provider fails.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1998
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Tessas still trumps
Article Abstract:
United Kingdom tax-exempt special savings accounts (Tessas) offer good rates for investors with tax advantages. Tessas can be taken out prior to April 5 1998 since after that deadline the amount that can be invested in a Tessa will be reduced due to annual limits being imposed, and the replacement of Tessas by individual savings accounts (ISAs). There are limits to the amount that can be moved into ISAs, and these limits are lower after April 6 2000.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
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