TESSA-only ISAs

Wednesday, 25, Oct 2006 12:00

TESSAs were Tax Exempt Special Savings Accounts, a form of tax free savings where you could invest up to £9,000 over the life of each account, five years. TESSAs were introduced in 1991 before being replaced by Individual Savings Accounts (ISAs) in 1999.

Whilst TESSAs have ceased to exist investors were allowed to roll an exsisting TESSA yet to mature into what is referred to as a TESSA-Only ISA (TOISA) so savers could continue receiving tax free interest. A TESSA-Only ISA is basically an ISA that allows the transfer of a TESSA tax free product into it upon the date of maturity.

Investing for income Investing for growth

Provider	Account	Income Yield	ISA Option	Apply
	FTSE Income Plan - Conditional Income Option	6.50% each year †	yes
	5 Year Structured Income Plan with offering an annual yield of 6.50%.
	FTSE Income Plan - Fixed Income Option	5.80% each year	yes
	5 Year Structured Income Plan with offering an annual yield of 5.80%.
	(RBS) The Royal Deposit Plan ISA	4.00% each year †	yes
	3 year fixed rate deposit plan that returns 4.00% a year. The plan can be used for cash ISA investment or cash ISA transfer.
	Investec 5 Year FTSE 100 Income Deposit Plan	4.75% each year ††	yes
	5 Year Capital Protected Structured Investment Plan with an annual yield of 4.75% or a monthly yield of 0.38%.
† Guaranteed income payments. †† Income payments are dependent upon the FTSE 100 Index.
Structured Investment Products promoted by Fair Investment Company Limited, Fair Investment Company Limited is Authorised and Regulated by the Financial Services Authority.

Provider	Account	Min. Investment	ISA Option	More info
	Investec FTSE 100 5 Year Deposit Plan	£1,500	Yes
	This 5 year capital protected structured investment plan offers a maximum return of 40% at maturity.
	Investec FTSE 100 3 Year Deposit Plan	£1,500	Yes
	This capital protected structured investment plan offers a maximum return of 18% at maturity.
	Investec FTSE 100 Enhanced Kick-Out Plan	£1,500	Yes
	9.25% a year if the FTSE 100 is above its starting level at any of the first 4 anniversaries of the plan.
	Morgan Stanley FTSE Best Entry Growth Plan	£3,000	Yes
	This 6 year structured investment plan offers two times any positive growth in the FTSE 100.
	Morgan Stanley FTSE Kick Out Growth Plan	£3,000	Yes
	This 6 year structured investment plan offers the potential to kick out after 3 years with a maximum return of 50%.
	Morgan Stanley FTSE Protected Growth Plan	£3,000	Yes
	This 6 year structured investment plan offers a return of up to 18% with the potential to kick out after 3 years.
	Morgan Stanley FTSE Tracker Plus Plan	£3,000	Yes
	This 6 year structured investment plan offers a return of 1.2 times any positive growth in the FTSE 100, with 80% capital protection.
Structured Investment Products promoted by Fair Investment Company Limited, Fair Investment Company Limited is Authorised and Regulated by the Financial Services Authority.

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TESSA-only ISAs

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