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Glossary > T > "TESSA" Definition

TESSA

Tax-Exempt Special Savings Accounts (TESSAs) are five-year savings accounts that do not incur tax charges on the interest paid. It has not been possible to open a new TESSA account since April 1999. However, TESSAs in existence before that date can continue up to the end of their 5-year term.

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TESSA - Tax-Exempt Special Savings Accounts (TESSAs) are five-year savings accounts that do not incur tax charges on the interest paid. It has not been possible to open a new TESSA account since April 1999. However, TESSAs in existence before that date can continue up to the end of their 5-year term.

TESSA : tax-exempt special savings accounts (tessas) are five-year savings accounts that do not incur tax charges on the interest paid. it has not been possible to open a new tessa account since april 1999. however, tessas in existence before that date can continue up to the end of their 5-year term.