Budget 2004

Personal Taxation

Tax Exempt Special Savings Accounts (TESSAs)

• no new accounts permitted after 5 April 1999
• no further investment after 5 April 2004
• maximum investment £9,000
• annual limits £3,000 in year 1, £1,800 in years 2 to 5
• capital element of a matured TESSA can be transferred to an ISA in addition to ISA limit

The figures shown here are subject to ammendment as the Finance Bill passes through Parliament.

This information has been prepared only as a topical guide to tax and personal financial matters. No responsibility can be accepted by us for loss occasioned to any person acting or refraining from acting as a result of any material contained in this publication.