Tax Exempt Special Savings Accounts (TESSAs)
 
You may pay up to £9,000 into a TESSA account over a 5 year period.
Provided that the account is maintained for 5 years
and that you withdraw no more than the interest on the account,
subject to a deduction equivalent to lower rate tax,
the interest is tax free.
  
No new TESSAs may be opened after 5 April 1999,
but you may continue to contribute to an old TESSA after that date
and may be able to reinvest your mature TESSA in certain circumstances.
 
Replaced by Individual Savings Accounts.