For updates affecting this Division please see Part E0 Updates
Individual savings accounts—introduction
E3.301 ISA—overview
For the latest New Development, see ND.2564.
The individual savings account ('ISA') was introduced from 6 April 1999 as the unique individual investment plan, offering individuals a tax-free savings account. The ISA is a scheme of investment managed by an account manager in accordance with regulations1 under terms agreed between the investor and the account manager2. Subject to transitional provisions, it replaced personal equity plans and tax exempt special savings accounts ('TESSAs').
The scheme is administered by HMRC's ISA team, who operate a helpline for ISAs3. The team also produce guidance notes for ISA managers which,
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