individual savings account
individual savings account (ISA)
A tax exempt savings scheme for individuals introduced in 1999 which replaces tax exempt special savings schemes (TESSAs) and personal equity plans (PEPs).
For further information, see the HM Revenue & Customs website:

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

Look at other dictionaries:

  • individual savings account — ( ISA) The new tax exempt savings scheme launched in April 1999 as a replacement for the personal equity plan ( PEP) and tax efficient special savings scheme ( TESSA). ISAs can be used to invest in a very wide range of investments and consist of… …   Financial and business terms

  • individual savings account — [individual savings account] ↑ISA …   Useful english dictionary

  • Individual Savings Account — An Individual Savings Account (ISA; pronounced /ˈaɪsə/) is a financial product available to residents in the United Kingdom. It is designed for the purpose of investment and savings with a favourable tax status. Money is contributed from… …   Wikipedia

  • Individual Savings Account — ISA A savings portfolio for small investors introduced in the UK in 1999. It replaced personal equity plans (PEPs) and Tax Exempt Special Savings Accounts (TESSAs); ISAs entitle individuals to save up to £7000 per year free of tax. The savings… …   Accounting dictionary

  • Individual Savings Account — ISA A savings portfolio for small investors introduced in the UK in 1999. It replaced personal equity plans (PEPs) and Tax Exempt Special Savings Accounts (TESSAs); ISAs entitle individuals to save up to £7000 per year free of tax. The savings… …   Big dictionary of business and management

  • Individual Savings Account — /ˌɪndɪvɪdʒuəl seɪvɪŋz əˌkaυnt/ noun a British scheme by which individuals can invest for their retirement by putting a limited amount of money each year in a tax free account. Abbreviation ISA …   Dictionary of banking and finance

  • individual savings account — ➡ ISA. * * * …   Universalium

  • TESSA-only Individual Savings Account — UK US noun [C] (ABBREVIATION TOISA) ► BANKING, FINANCE a form of ISA (= a type of savings account) into which you can put money from a TESSA: »Tessa holders can carry on earning tax free interest by transferring their capital to a TESSA only… …   Financial and business terms

  • Self-select Individual Savings Account — is a type of ISA which gives the investor the freedom to choose the investments that go in it. They are not restricted to the stocks and shares of one particular ISA manager …   Financial and business terms

  • Lifetime Individual Savings Account — /ˌlaɪftaɪm ˌɪndɪvɪd uəl seɪvɪŋz əˌkaυnt/ noun a British scheme by which individuals can invest for their retirement by putting a limited amount of money each year in a tax free unit trust account. Abbreviation LISA. ⇒ ISA …   Dictionary of banking and finance

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