| 单词 | personal equity plan |
| 释义 | personal equity plan = PEP A UK government scheme introduced by the Finance Act 1986 to encourage individuals to invest in company shares and equity-based unit and investment trusts, offering investors certain tax benefits. PEPs were superseded in 1999 by Individual Savings Accounts (ISAs), but arrangements for existing PEPs continue unaltered. The investment is administered by an authorized plan manager. General PEPs invest in the shares of more than one company. They may be managed PEPs, in which the plan manager makes the investment decisions; self-select PEPs, in which the investor makes the decisions; or advisory PEPs, in which the plan manager (usually a stockbroker) advises the investor about investment decisions. Investors may put in a lump sum or regular monthly amounts. Re-invested dividends are free of income tax and capital gains tax is not incurred, as long as the investment is retained in the plan for at least a complete calendar year. There is currently a limit of £6000 on the amount an individual can invest in a general PEP in any year. However, an additional £3000 may be invested in a single-company PEP (containing the shares of only one, EU-based company), which may be a self-select PEP or a corporate PEP, sponsored by the company issuing the shares. A few corporate PEPs are general PEPs, with an investment limit of £6000. |
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