Why the NISA Is Nicer Than the ISA

The New ISA (NISA) is here. The ISA has been on quite a journey, starting out as a Personal Equity Plan (PEP) in 1986 when the maximum annual contribution was 6,000 pounds which would be invested into collective investments. Whereas the Cash ISA started life in 1991 as the Tax Exempt Special Savings Account (TESSA), you could save up to 9,000 pounds over a 5 year period.