TESSAs
- Savings and Investment
About TESSAs ( Tax Exempt Special Savings Account )
It
has not been possible to buy new Tessas or Peps since 5 April 1999
but you can continue to hold a Pep or Tessa account that was opened
before that date. You
can continue to put money into a Tessa (subject to TESSA limits)
until the account matures five years after you opened it.
When
the Tessa matures you can move some or all of the money (but not
interest or bonuses) you paid into the Tessa:
- into
a cash mini ISA
- into
the cash component of a maxi ISA
- into
a special "TESSA-only" ISA (Toisa)
Whichever
you choose, this transfer (of the capital only) from your Tessa
is in addition to the normal annual ISA limits set out. You must
also transfer the money within six months of the date your Tessa
matures.
List
of ISA and PEP Transfer Providers
OCIS
provide general financial information, we urge you to consult an
Independent
Financial Adviser ( IFA )
before making any important decisions about your finances. |
