What is Personal Equity Plan

The personal equity plan was an U.K. based investment plan where the anybody over the age of 18 could invest in shares of any U.K. company that they may preferred. The good part was that they would earn income and interest on their investments tax free. There were some limitations on how much a person could invest, this amount has been set to £6.000 for a general equity plan and a £3.000 for single company in a taxable year. Now this plan has been discontinued in the April of 1999 and it has been replaced by individual savings account (or short ISA).