Tax Free Savings Plan
The Tax Free Savings Plan from LV= lets you take advantage of the special tax breaks enjoyed by friendly societies like us.
The Tax Free Savings Plan is a simple and straightforward way to save.
You can take out an LV= Tax Free Savings Plan for a child or grandchild. It's an excellent way to build valuable extra cash for the future and good nest egg to help them start out in life. To find out more and apply, please take a look at the Tax Free Savings Plan Application for a child.
Why choose the LV= Tax Free Savings Plan
- We offer a Tax Free Savings Plan for both Adults and Children, so most people can save with LV=.
- Save £25 a month for 10 years or more.
- Spread the cost and save monthly or pay in one lump sum a year.
- Get a tax free lump sum when your plan matures, provided you have kept up your monthly payments (If the Government changes the tax treatment of Tax Exempt Savings Plan in the future, this may reduce the potential growth from this investment).
Invests in our With Profits fund which invests in shares, property and fixed interest investments. Our Tax Free Savings Plan is a stockmarket based investment so you are not certain to make a profit.
No reclaims of tax can be made on dividend payments received within the fund.
To apply for a Tax Free Savings Plan
- You must be a UK resident (not the Channel Islands or Isle of Man)
- You must be aged 17 to 74
Tax Free Savings Plan for a child - If investing for a child under 6, the Plan will pay out on the Plan anniversary after their 16th Birthday.
- For those aged between 6 and 16, the plan will run for 10 years.
For more information on both Tax Free Savings Plans, please read the Key Features Documents.
Tax treatment depends on your personal circumstances. Please refer to the Key Features for details of how benefits from your plan will be taxed. Any references to taxation are based on our understanding of current legislation and HM Revenue & Customs practice, which is subject to change.
Next steps
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