What does the tax-free & friendly UK Select Investment Plan offer?
The Scottish Friendly UK Select Investment Plan is a 10 year investment for anyone aged between 16 and 64 and is designed to help you take full advantage of your tax-free savings allowance. Under current law, you are entitled to save from £15 to £25 a month free of income and capital gains tax with a friendly society. This is a limit set by the Government and it’s in addition to any other tax-efficient savings you have invested in, for example, ISAs. If you don’t use it, you simply lose it. What’s more, if you want to invest more than £25 a month, you can and any amount over this will be invested in a tax paid policy and Scottish Friendly will deduct the tax due on any growth from this part of your investment. When your plan matures, you will have no further tax to pay on your final cash value, even if you are a higher rate tax payer. Tax regulation is subject to future change. The fund you invest in receives UK dividend income net of corporation tax. If you have already invested your
