Can we not remove 'Tessa'?

Milarky

...at least from the title of this sub forum? (I suppose the same goes for 'PEP's too?)

'TESSA's ceased to be available in April 1999. All TESSAs matured by April 2004. The either lapsed, or were reinvested into 'TOISA's ('Tessa-only ISAs), which were ISAs, so the 'TO' bit was simply a qualification for ISA purposes..

Now (since April 2008?) the term 'TOISA' has itself been abandoned by HMRC and ISA providers (i.e. they can't be described as 'TOISA' providers and no distinction can be made as to how the money first became an 'ISA') So why retain the anachronistic reference to TESSAs/TOISAs when it all just ISAs now? Yes, a few people might think they've got 'TESSA's, but they haven't - they've simply had ISAs for the last (nearly) five years...

Not sure about the current status of PEPs, but can we have 'Tessa' excised finally?

Thank you

dunstonh

PEPs ceased to exist in April 2008 and were renamed ISA and fell in line with ISA rules (there were still a few minor differences until then.

Lansdowne

This came up in the discussion about having a separate "savings" and "investment" forum. I think the conclusion was that everyone at MSE Towers has better things to do than rearrange the forum titles.

A better question is whether to scrap the sub-board as there are at least as many queries about ISAs on the parent board than here.

kingofthecastle

Milarky

Presume you are posting in response to my earlier posting on this forum titled Cash Isa- Tessa Funds.
I used the header Cash Isa - Tessa Funds as is that is what NatWest call my account. Would suggest that as the banks are still using this terminology it is useful in making the distinction between an ex TESSA account to which no additional savings can be added and modern day ISA to which funds can be added up to the annual limit.

Dont expect such Cash Isa -Tessa Funds accounts will last much longer due to the poor rates of interest compared to recent e-isa introductions, i am certainly going to move mine to something giving a better return.

rb10

Milarky, try posting it at http://forums.moneysavingexpert.com/showthread.html?p=18590259 as they are asking for suggestions of this sort.

I think it's a very good idea. ISAs wants to be mentioned by name in the title, as they are what people know, but the phrase "tax-free savings" could be used with this to include the various other obsolete forerunners to ISAs.

runciblespoon

I piggybacked it onto a suggestion to create an investments board... feel free to argue or disagree here or on that thread.

dunstonh

They could also look at renaming the Reclaim PPI forum as well. Call it "how to lie and make fraudulent claims board". Its an absolute disgrace in there what people are being encouraged to do.

but the phrase "tax-free savings" could be used with this to include the various other obsolete forerunners to ISAs.

Good option. Although the most tax free option is pension. I did wonder about tax efficient but then you start getting messy with onshore bonds and offshore bonds which will be tax efficient for some but not others.

Dropping it back to ISAs or even getting rid of it altogether would be better. It doesnt get enough posts and the main savings/investments board gets as many ISA posts than the ISA forum does.