Tessas still offer a route to value

Article Abstract:

Tax-exempt special savings accounts (Tessas) and personal equity plans will be abolished in April 1999 in favour of individual savings accounts. However, accounts opened before the 1999 deadline will be permitted to continue to maturity. There are about 90 institutions offering Tessas and investors can save up to 9,000 pounds sterling without paying tax. Investors should find out what transfer terms are imposed by the various institutions incase penalties are imposed. Variable rate Tessas give better interest than fixed-rate ones, especially if base rates rise.

Commercial Banking, Public Finance Activities, Savings Institutions, Savings Account Services, Personal Taxes-Savings Incentives, Evaluation, Savings, Savings accounts, Tax incentives

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Venture capital giant launches new-style Pep

Article Abstract:

Corporate bond personal equity plans (Peps) and venture capital trusts were proposed in the UK Budget. 3i is launching a corporate bond Pep geared mainly to investors paying income tax at the rate of 40%. Investors should assess the impact of the annual management fee and whether this is in excess of tax saved. 3i is seen as a low risk venture capital fund due to its diversified portfolio. Venture capital trusts are also being launched and allow tax relief of 20%, in addition to the facility of rolling over capital gains.

Venture Capital Companies, Miscellaneous Intermediation

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Regaining personal income

Article Abstract:

Investors must pay attention to the tax treatment of different investment income when developing portfolios. Factors to take into account include capital gains tax exemptions and the tax-free status of Isas.

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