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Acronyms that contain the term tax-exempt special savings account
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What does tax-exempt special savings account mean?
- Tax-exempt special savings account
- In the UK, the tax-exempt special savings account (TESSA) was one of a number of tax-free savings accounts. The TESSA was announced by John Major in his only budget as Chancellor of the Exchequer in 1990 (the "budget for savings") and at first had a five-year lifespan. The TESSA was intended to be a low-risk complement to the personal equity plan (PEP) which would be attractive to a wider range of savers. The accounts were replaced by Individual Savings Accounts in 1999.
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"tax-exempt special savings account." Abbreviations.com. STANDS4 LLC, 2024. Web. 26 May 2024. <https://www.abbreviations.com/tax-exempt%20special%20savings%20account>.
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