One of the mysteries of the English language finally explained.
(in the UK) an investment scheme whereby personal investors could invest a limited sum each year in shares or unit trusts in British companies without liability for tax on dividends or capital gains (closed to new subscriptions in 1999, when replaced by the ISA).
- ‘Mortgages linked to pensions, personal equity plans, and ISAs were each in their day the favoured loan of ‘fashionable’ borrowers.’
- ‘I must get cracking and sell all those personal equity plans and ISAs I bought.’
- ‘ISAs were introduced to replace personal equity plans and Tessas.’
- ‘This comes at a time when other investment taxbreaks have been cut back sharply, not least personal equity plans.’
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