Peps and Isas - the new rules for the 2008/2009 tax year

Some 21 years after the introduction of personal equity plans (Peps) by Margaret Thatcher's governme...

Some 21 years after the introduction of personal equity plans (Peps) by Margaret Thatcher's government, and nine years after Labour replaced them with individual savings accounts (Isas), we are once again on the cusp of a major rule change. Remind me what the old rules were? With Peps, investors could invest up to £6,000 a year in shares or funds, with the proceeds being paid free of income and capital gains tax. A further £3,000 could be invested in a single-company Pep, which held the shares of just one company. In 1991 the Major government introduced tax-exempt special savings accoun...