Instead, they're a tax-free savings plan
for those building up a deposit.
What garnered light applause from the budget was the introduction of a tax-free savings plan
, aimed at remedying South Africa's poor savings culture.
All children born since April, 2002, got a Government voucher worth at least pounds 250 to open a tax-free savings plan
, with another pounds 250 voucher promised on their seventh birthday.
With only five weeks left to use the Individual Savings Accounts' (ISAs) allowance for this tax year, it seems that confusion about their benefits is preventing many people from making the most of this annual tax-free savings plan
, according to research by life and pensions company Friends Provident.
While the poorest families will get pounds 500 to be put away in a tax-free savings plan
until the new arrival is 18, little John will be given pounds 250.
Paul Banfield from Best Advice Financial Planning told her she could claim Children's Tax Credit worth pounds 1,049 and suggested a tax-free savings plan
for Victoria with Children's Mutual.
Liverpool Victoria, the UK's largest friendly society - which manages pounds 6.5 billion for more than a million members - offers a tax-free savings plan
for parents and grandparents on behalf of children requiring a minimum pounds 12 50p a month.
So it remains for me to draw up your tax-free savings plan
From 6 April 2001, the Government is giving teens with gift for thrift the chance to make their birthday money work for them by investing into a tax-free savings plan
A YOU might consider a Friendly Society tax-free savings plan
of up to pounds 25 per month each.
Liverpool Victoria Friendly Society's tax-free savings plan
starts at pounds 12.50 per month.
Mr Gordon Brown's Treasury team proposed that Tessas and Peps should be replaced by a new tax-free savings plan
, which could hold cash, life assurance and shares.