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Tax Exempt Special Savings Accounts ('TESSAs')

Make the most of your TESSA funds after your TESSA matures.
Call 01225 428444 for professional assistance.

Choosing a Tessa-Only ISA (TOISA)

For Current Preferred TESSA only ISA funds, click here.
For a list of the top performing TOISAs, click here.
If you would like professional assistance with your choice call 01225 428444, click on the call me button below or to send an e-mail click here.

How do I transfer my TESSA?

There can be significant benefits in transferring your TESSA to a TOISA. However, the paperwork can be confusing. Send us your details for an advisor to help you.

What are TESSAs?

TESSAs are five-year savings accounts that pay tax-free interest.
It has not been possible to start a new TESSA since 5 April 1999.
TESSAs in existence at that date can continue to run to maturity.
You can continue putting money into your TESSA (up to the annual limits) until maturity.

Special Tax Rules for maturing TESSAs

You can transfer the capital (up to £9,000) into a special type of ISA (a TESSA-only ISA).
This is on top of your normal annual ISA limits.
To take advantage of these special rules, you must transfer the TESSA capital within 6 months of the maturity date.
Note that you are not tied to your original TESSA provider.

The above provides only a general summary and is not a substitute for obtaining professional advice.Levels and basis, and reliefs from, taxation are subject to change and their value depends on the circumstance of the individual investor.

Astute Investor does not recommend or endorse investment products nor does it provide financial advice.
This site is for the use of UK residents only. Past performance is not necessarily a guide to future performance. Mortgages, loans, general insurance, stockbroking services, tax advice, will writing, advice on deposit accounts, and some aspects of protection are not regulated by the FSA. Levels and basis, and reliefs from, taxation are subject to change and their value depends on the circumstance of the individual investor.

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