PEPs Replacement
Following the introduction of Individual Savings Accounts on 6 April 1999 by the new Labour government, no new contributions could be made into PEPs. Existing funds retain their tax privileges and can be transferred to alternative managers. Furthermore the distinction between general and single company PEPs was removed allowing more freedom of movement.
On 6 April 2008 PEP accounts automatically became stocks and shares ISAs.
Read more about this topic: Personal Equity Plan
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