By advising investors to transfer the £46bn currently held in Peps into other investment vehicles, advisers can help their clients gain higher returns and boost an industry suffering from a lack of fresh cash
Even before the events of 11 September, 2001/02 had not been a good year for Isa sales. The traditional tax year-end rush was marked as much by the disappearance of saturation advertising as the volume of new business. According to the latest Inland Revenue statistics, from 6 April 1999 to 5 January 2002, £39bn was subscribed to the stocks and shares component of Isas. The Revenue's statistics for Peps are less up to date but the numbers are more impressive: as at April 2001, the total value of Pep investments amounted to £81.09bn, nearly twice as much as in Isas. Statistics from the ...
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