Things you need to know
Here’s a few more things that are important to understand about our Tax-Free Savings Plan…
- Please let us know if you make payments to any other Friendly Society tax-free plans, as the set allowance of £25 a month applies to the total of all the plans you have.
- We cannot guarantee to award bonuses or how much any bonus might be. This is because bonuses depend on how well the fund performs, and this depends on things like interest rates and the stock market.
- You have the right to cancel your plan within the first 30 days and we will refund any premiums you have already paid. If you cancel your plan after 30 days and within the first year, your plan will have no value.
- If you cancel after the first year and before the maturity date, you may get back less than you have paid in, or you may have to pay income tax on any profit you have made.
- The tax treatment of the policy may be subject to change in the future and could also depend on the individual circumstances of the policy holder.
- Inflation will reduce what you can buy in the future with your investment.
- You will not pay any income tax or capital gains tax on your investment. The only tax due is that on dividends from shares held in the fund which is paid by National Deposit and cannot be reclaimed.
Guaranteed:
When your plan matures, you'll get back at least as much as you have paid in.
Not only will your hard-earned savings accumulate a tax free lump sum, but we guarantee that – whatever happens to stock markets or the world economy – you will receive back at least what you have paid into the plan when the policy ends. And in these uncertain days, that’s good to know.
Tax Efficient Savings for you – and for any child!
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Don’t forget, the Tax Free Savings Plan can be started for children too – many people use it as a way to save for their children or grandchildren.
Apply right now online
Alternatively, why not find out more about our Tax free Saving Plan by calling us on 0800 195 9246 or order your FREE information pack.
