 New TESSAs could not be created after 5 April 1999, so the required five-year term of all TESSAs ended by 5 April 2004.TOISAs were created to allow the original capital (excluding interest) invested in a TESSA (up to £9,000) to be reinvested in a tax-free form.In the March 2007 Budget the limits for the 2008/9 tax year were increased.