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You cannot now put any more money into Personal Equity Plans ( PEPs ). They were withdrawn from the start of the new tax year in April 1999. However, existing PEPs may continue outside your Individual Savings Account (ISA) and will qualify for the same tax reliefs as ISAs.
In addition to investing £6000 in a 'general PEP' investors were also permitted to invest a further £3000 in the shares of one additional company.
Some of the leading blue chip companies operated special low cost schemes in conjunction with stockbrokers, so as to encourage wider ownership of their shares. The single company restriction has since been lifted and all remaining PEP investments operate under a similar regime to that which pertains to ISAs.
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Last Updated: February 2008 © Moneyextra.com
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