UK Money News
11th March 2008
M&S Money unveils guide to ISAs and PEPs
M&S Money has produced an online guide to Independent Savings Accounts (ISAs) and Personal Equity Plans (PEPs) to enable potential investors to better comprehend the impending changes to regulations over their use.
A recent survey found that although the regulations will come into force on April 6th, 79 per cent of people are still largely unaware that they are set to occur.
In response the firm has set up the guide which seeks to simply and comprehensively explain the changes and answer common general queries about the products.
Brendan Cook, chief executive of M&S Money, said: "We welcome the changes to the PEP and ISA rules and hope that they give savers more confidence when deciding how and where to invest.
"Our customers often ask us to explain how tax-efficient savings work, so we have produced an online guide and Q& As which anyone can get from our website."
Among the changes set to be introduced is increasing the annual ISA allowance to £7,200 per year and the reclassification of PEPs as Stocks and Shares ISAs.
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