TCTM04601 - Further disregards in the calculation of investment income: Personal Equity Plans (PEPs) and Individual Savings Accounts (ISAs)

The Tax Credits (Definition and Calculation of Income) Regulations 2002, Reg. 10(2), Table 4, Item 1.

When calculating investment income, disregard the following:

• Any interest, dividends, distributions, profits or gains from a Personal Equity Plan (PEP) or an Individual Savings Account (ISA). But interest under a PEP is only disregarded to the extent that it does not exceed the £180 annual limit mentioned in regulation 17A(2) of the PEP Regulations 1989.