Tax-exempt special savings account
In the UK, the tax-exempt special savings account (TESSA) was one of a number of tax-free savings accounts. The TESSA was announced by John Major in his only budget as Chancellor of the Exchequer in 1990 (a budget for savings). The TESSA was intended to be a low-risk complement to the personal equity plan (PEP) which would be attractive to a wider range of savers.
Qualification
An individual aged 18 or over was able to open a TESSA with a bank, building society or other financial institution from 1 January 1991 to 5 April 1999. A specific requirement was the presentation of the applicant's National Insurance number, facilitating identification to taxation, for the purpose of ensuring only one TESSA (tax free) account investment could be operated by the individual per year. Interest on the TESSA was free from UK income tax. The favourable tax treatment of a TESSA lasted for 5 years, and it was possible to invest up to £9,000, with a maximum investment of £3,000 invested in the first year and £1,800 in each of the second to fifth years (although, if the maximum was invested in the first four years, only £600 could be added in the fifth year). Withdrawals were permitted within the first 5 years: tax relief was clawed back if any of the invested capital was taken out; withdrawals of interest did not trigger a clawback of the tax relief.
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7 Days, 7 Weeks
by: DeusSister love, why don't you break it up?
You got to let someone look into your heart
Sister love, how do you keep it up?
If you don't let no-one look into your heart
As a kid, you couldn't live it up
You were so serious but always so smart
As a kid, you couldn't keep it up
And we were never close, so much apart
Here comes the sun smiling
How long have you been blue?
There'd ever be a time for us to recapture
All the time we lose
There was a time when you were being so proud
Could have been anythin' that you aspired
There was a time when you were never around
When somethin' good happened, somethin' good happened right
So sister love, I'll help you off the ground
You got to let someone look into your heart
You got to turn this situation around
You got to turn this, turn it around
Here comes the sun smiling
How long have you been blue?
There'd ever be a time for us to recapture
All the time we lose
'Cause it's plain to see
A storm is not the weather
And I'm telling you girl
You'll look at them and smile
I'm telling you girl
You'll look at them and smile
7 days you should be givin' yourself
All your belongings, all that you treasure
7 weeks you think of nobody else
Is this what you want, is this what you are?
How did it come this far?
Here comes the sun smilin'
The only thing that's true
There'd ever be a time for us to recapture
All the time we lose
'Cause it's plain to see
A storm is not the weather
And I'm telling you girl
You'll look at them and smile
And I'm telling you girl
You'll look at them and smile
And I'm telling you girl
You'll look at them and smile
And I'm telling you girl