Definitions for "Personal Equity Plan"
Keywords:  pep, isa, april, stockmarket, wrapper
(PEP) A tax-free investment plan in the U.K. where individuals could invest in equities on a tax-free basis. This plan has now been closed to new investments and replaced with the Individual Savings Account (ISA).
Tax-efficient scheme for investing in shares , unit trusts, investment trusts, and corporate bonds. Since April 1999, PEPs have been replaced by the Individual Savings Account (ISA), which is a similar tax-free investment account.
Personal Equity Plans, or PEPs for short, are schemes which give UK resident investors the opportunity of investing in the stock market without paying tax. Investors can invest up to a certain ceiling (currently £9000) every year in shares, unit trusts and investment trusts, subject to certain conditions, and can take any income or capital gains from them completely free of tax.
A repayment vehicle associated with Interest Only mortgages.