P543 Teletext 543 Jan12 22:44:42 ————————————————————————————————— CAN I STILL INVEST IN A PEP? Dear Teletext, I have various shares but I wonder if I should invest in a Pep. Can you explain in basic English what a PEP is? TM, West Midlands ——————————————————————————————————1/7—— Got a question for our advice clinic? NEED TAX ADVICE? see p215P543 Teletext 543 Jan12 22:48:09 ————————————————————————————————— CAN I STILL INVEST IN A PEP? Peps, or personal equity plans, are tax shelters for investments. They were introduced by the Conservative government and proved highly popular. Chancellor Gordon Brown replaced Peps with Iras last April. Both schemes provide investors with protection from income and capital gains tax. Peps still exist, with money invested before April growing tax free. Since then, no new money has gone into them. ——————————————————————————————————2/7—— Got a question for our advice clinic? NOW IT'S EVEN EASIER TO FIND LOVE: TELETEXT DATING ITV p390 Property Mortgages Savings CityP543 Teletext 543 Jan12 22:41:21 Advert MONEY >>> 3/7 PHONE GET UP NEED TO 35% MORE! CASH? DON'T SURRENDER ORSELLYOUR ENDOWMENTPOLICY WITHOUTTALKINGTOAAP Regulated by the Personal Investment Authority Property Mortgages Savings CityP543 Teletext 543 Jan12 22:58:58 ————————————————————————————————— CAN I STILL INVEST IN A PEP? Peps were brought in by the last Conservative government as a way of encouraging more people to save and invest. A Pep was not a product, but rather a tax umbrella which sheltered shares, cash and life insurance investments from income and capital gains tax. Iras took over from Peps in April, providing similar tax benefits for savjts. ——————————————————————————————————4/7—— Got a question for our advice clinic? NOW IT'S EVEN EASIER TO FIND LOVE: TELETEXT DATING ITV p390 Property Mortgages Savings CityP543 Teletext 543 Jan12 22:56:18 ————————————————————————————————— CAN I STILL INVEST IN A PEP? It's important to realise that it is no longer possible to invest in Peps. Even so, the schemes are likely to exist alongside Iras for a long time to come as investors keep their funds tax free. As with Iras, Peps were simply a tax shelter. They allowed a maximum of £9,000 per person to be invested in the schemes each year. Both schemes mean the underlying investments are tax free. ——————————————————————————————————5/7—— Got a question for our advice clinic? TELETEXT NATIONAL AND REGIONAL NEWS PAGES ALL AVAILABLE ON OUR WEB SITE Property Mortgages Savings CityP543 Teletext 543 Jan12 22:53:51 ————————————————————————————————— CAN I STILL INVEST IN A PEP? Savers who want to enjoy tax free investments need to protect their money in an Ira shelter and should forget about Peps. Iras are not as simple as Peps, but but they carry all the tax breaks. Like Peps you can hold them and benefit from their advantages indefinitely. Savers can invest a maximum of £7,000 before April 5 in a stocks and shares Ira and then £5,000 the following year. ——————————————————————————————————6/7—— Got a question for our advice clinic? INSHORE FORECAST IS NOW ON p158P543 Teletext 543 Jan12 22:44:17 ————————————————————————————————— NEED ADVICE? WRITE TO ADVICE CLINIC Teletext's Advice Clinic aims to bring you straight answers to the difficult problems of modern finance. Queries marked Advice Clinic can be: faxed: 0171 386 3242 e-mailed: finance@teletext.co.uk posted: PO Box 297, London, SW6 1XT Answers are updated three times a week. We cannot answer all queries and will not enter into personal correspondence. Information given is for guidance only. ——————————————————————————————————7/7—— Got a question for our advice clinic? INSHORE FORECAST IS NOW ON p158