In the United Kingdom a Personal Equity Plan was a form of tax-privileged investment account. They were introduced by Nigel Lawson in the 1986 budget for Margaret Thatcher's Conservative government to encourage equity ownership among the wider population. PEPs were allowed to contain collective investments such as unit trusts. In 1992 a new type of PEP called a single company PEP was introduced only allowed to hold single company shares. To distinguish between the two types the original variety were called general PEPs.
Read more about Personal Equity Plan: Tax Privileges, Limited Contributions and Suitable Assets, Erosion of Tax Privileges, PEPs Replacement
Famous quotes containing the words personal, equity and/or plan:
“The grief of the keen is no personal complaint for the death of one woman over eighty years, but seems to contain the whole passionate rage that lurks somewhere in every native of the island. In this cry of pain the inner consciousness of the people seems to lay itself bare for an instant, and to reveal the mood of beings who feel their isolation in the face of a universe that wars on them with winds and seas.”
—J.M. (John Millington)
“If equity and human natural reason were allowed there would be no law, there would be no lawyers.”
—Christina Stead (1902–1983)
“Make a plan and you will find she has something else in mind;”
—Alan Jay Lerner (1918–1986)