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PEPs

Following changes by the Chancellor of Exchequer, PEPs were merged with Stocks and Shares ISAs after 6th April 2008.

Tax efficient PEP wrappers were automatically converted to ISAs preserving the investments within them. This resulted in a small change to the way interest held within the PEP is taxed however the ISA still benefits from being free of Capital Gains Tax and Income Tax.

PAUL TOON - Independent Financial Advisor

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Although PEPs no longer exist, your old PEP wrappers can still be consolidated into a single ISA account and the investments you hold can be changed. Any ISA, including former PEPs, can be transferred between investment managers without losing the valuable tax benefits.

All information given is based upon our understanding of current UK legislation and tax rules which is subject to change.

 


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Phone: 01335 370 515

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Copyright © Apt Financial Management 2009   |   Apt Financial Management is authorised and regulated by the FSA and can be found on the register under firm reference number 220232
APT Financial Management is not responsible for the content of external websites linked to from this site. All information given is based upon our understanding of current UK legislation and tax rules which is subject to change.