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:
“I believe that the highest virtue is to be happy, living in the greatest truth, not submitting to the falsehood of these personal times.”
—D.H. (David Herbert)
“If equity and human natural reason were allowed there would be no law, there would be no lawyers.”
—Christina Stead (1902–1983)
“Max Detweiler: I get a fiendish delight thinking of you as the mother of seven. How do you plan to do it?
The Baroness: Darling, haven’t you heard of a delightful little thing called boarding school?”
—Ernest Lehman (b. 1920)