Page "Individual Savings Account" Paragraph 1

ISAs were introduced on 6 April 1999, replacing the earlier Personal Equity Plans ( PEPs ) and Tax-Exempt Special Savings Accounts ( TESSAs ).

ISAs were explicitly designed to appeal to a broader range of the population than these earlier products, which were sometimes claimed to be exclusively for the benefit of the middle classes.

Other channels for tax-privileged savings exist that also pre-date ISAs, notably the National Savings and Investments, which is a state owned bank offering a range of non-ISA tax free accounts ( in addition to its own ISAs.