http://www.legislation.gov.uk/uksi/1990/678/contents/made

The Personal Equity Plan (Amendment) Regulations 1990

Business practice and regulation

Capital gains tax

Regulation and deregulation

Tax

King's Printer of Acts of Parliament

2015-12-21

INCOME TAX

These Regulations, which come into force on 6th April 1990, amend the Personal Equity Plan Regulations 1989 (“the Principal Regulations”). The principal effects of the amendments are to increase the amount which may be subscribed to a plan in any year to £6,000, to add funds of funds to the category of qualifying investments for the purposes of plans, to permit shares received on the conversion of a building society into a company to be transferred into plans, and to reduce the percentage of the value of investments that must be held by authorised unit trusts, funds of funds and investment trusts in United Kingdom companies to 50 per cent. Alternatively plan investors may invest not more than £900 in any year in authorised unit trusts, funds of funds and investment trusts which do not satisfy that requirement. Special rules are provided for plans in which such non-qualifying investments are held on 5th April 1990.