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Tilney welcomes end of Peps


Tilney Investment Management chairman is welcoming the imminent demise of Peps.


Chairman John Mitchell believes Peps have been oversold to the wrong group of people especially in the run up to their death.


Mitchell says: &#34The figures are quite simple – any income tax relief will frequently be absorbed by the management charges, so a Pep is only really worthwhile if you are in the position to take advantage of the fact that any capital gain within the Pep is free of tax.


&#34To do that, you must already be in a postion to fully use your personal annual capital gains tax allowance.&#34


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