Deadline to re-invest maturing Tessas looms says Yorkshire Building Society

Savers whose Tessas mature have six months to re-invest them in a Tessa Only ISA (Toisa) to maintain their tax-free status. Yorkshire BS points out those Tessa that matured in February, March or April 2004 need to move now to re-invest. YBS is offering savers a special rate of 5.35% throughout August on its roll-over Toisa. A saver with the maximum £9,000 invested in a Tessa could earn £2,679 over five years, whereas the same amount invested in a taxable saving account would net just £2,098 or £1,540 for a higher rate tax payer. Lambeth Building Society is currently offering 5.4% gro...