tax exempt special savings scheme
- tax exempt special savings scheme
-
A special bank or building society savings account that offered tax-free interest provided that the account was maintained for a fixed period of five years. TESSAs were replaced by individual savings accounts (ISAs) from 6 April 1999 although TESSAs opened before that date can continue to run to maturity under the normal TESSA rules.
Practical Law Dictionary. Glossary of UK, US and international legal terms.
www.practicallaw.com.
2010.
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