PEP frequently asked questions

How can I apply for a PEP?

You can no longer apply for a PEP as they have been replaced by Stocks and Shares ISAs. To apply for or transfer an ISA please visit the Vantage ISA section of our website.

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What has happened to PEPs?

PEPs became Stocks and Shares ISAs on 6^th April 2008. For more information on ISAs please visit our ISA frequently asked questions.

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Have the tax benefits changed as a result of PEPs merging with ISAs?

There is a small change to the way interest on cash held within a PEP is taxed. Within an ISA HM Revenue and Customs apply a charge of 20% on interest received from cash holdings. ISAs remain free from Capital Gains Tax and Income Tax.

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