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
	Investec FTSE 100 Bonus Income Plan	6.50% each year †	yes
	5 year structured investment plan with annual or monthly income options. Potential for additional bonus payments.
	Investec 5 Year FTSE 100 Income Deposit Plan	4.50% each year ††	yes
	5 year capital protected structured deposit plan with an annual yield of 4.50% or a monthly yield of 0.36%. The plan can be used for cash ISA investment or cash ISA transfer.
† See details. †† 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
	Skipton Building Society Guaranteed Double Asset Bond	£3,000	No
	1/3 invested in a 5%, 1 Year Fixed Rate Bond. 2/3 invested into a FTSE 100 Index Linked Bond which returns 100% of any positive growth up to a maximum return of 50%.
	Investec FTSE 100 5 Year Deposit Plan	£1,500	Yes
	This 5 year capital protected deposit plan offers a maximum return of 32.5% at maturity.
	Investec FTSE 100 Deposit Growth Plan	£1,500	Yes
	5 year structured investment plan that aims to provide a full repayment of capital at the end of the five year term, plus 100% of any growth in the FTSE 100 after 5 years.
	Investec FTSE 100 3 Year Deposit Plan	£1,500	Yes
	This capital protected deposit plan offers a maximum return of 15% at maturity.
	The UK Early Growth Kick Out Plan	See Details	Yes
	5 year structured investment plan benefiting from an early maturity feature. The plan offers the potential to return 11% for every year that the plan has been in force, if it matures early.
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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