Home Products Tax-free child investments Parent's Flexible Plan

Parent's Flexible Investment Plan

Tax-free with parental control

Tax free investing for your kids with parental control

With Parent’s Flexible Plan you make a tax-free investment for your child, but remain in control of how the money is spent. Your plan is set up for the maximum 18 years, but you have the flexibility to cash in your plan early if you need the money earlier. The table below provides all the plan detail and things you should consider. For more information on Parent’s Flexible Plan please visit the in detail tab.

Unlike other investments for kids, the money is paid to you
i Your Parent’s Flexible Plan i Things you should consider
  • Start a regular savings habit for your child using your tax-free savings allowance. Invest £15 to £25 a month for at least 10 years and a maximum of 18 years.
  • Give your money the long term growth potential of the UK stock market.
  • Your money will be invested in our UK Tracker Fund which is designed to track the UK stock market which features leading UK companies like Tesco, BSkyB and BT.
  • You have complete control over the payout.
  • Flexibility is built in, allowing you to cash in early.
  • A small amount of life cover for you is automatically included as a condition of the tax benefits.
  • Stock market investments can go down as well as up and you could get back less than you have paid in.
  • Tax-free means the fund your plan invests in grows free of income and capital gains tax (other than tax on dividends from UK shares).
  • Tax treatment depends on your individual circumstances and tax law may change in future.
  • If you access your plan value before 10 years you may have a tax charge to pay and there will be a £50 deduction from the cash-in value.
  • You are investing for a child using your own tax-exempt savings plan allowance.
  • The cost of your life cover is included as a small part of the plan’s charges. The cost of life cover is higher for older ages.
  • To apply you need to be a UK resident aged between 16 and 64.

Find out more

 

No advice has been provided by Scottish Friendly in relation to this plan. If you are in any doubt as to whether this plan is suitable for you, you should contact a financial adviser for advice. If you do not have a financial adviser, you can get details of local financial advisers by visiting www.unbiased.co.uk. Advisers may charge for providing such advice and should confirm any cost beforehand.

Taking out an investment plan with us is straightforward

Thank you for choosing to apply. All you have to do is follow three simple steps:

  1. Before you apply, please ensure that you have read and understood the information provided on the Parent's Flexible Plan.
  2. Then download and carefully read the Key Features.
  3. Finally complete the online application, specifying the date on which you wish payments to start and we'll begin processing your plan immediately.

Apply now

Before you continue, you should ensure you have read and understood the Key Features document. This is our standard client agreement upon which we intend to rely. For your own benefit and protection you should read these terms carefully. If you do not understand any point please ask for further information.

Call us on 0333 323 5433 if you have any further questions about this plan or how to apply for a Parent's Flexible Plan. The information provided relates to Scottish Friendly only.

Lines are open 8.30am-5.30pm, Monday to Friday.

Scottish Friendly may record and monitor calls.

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Scottish Friendly is not responsible for the accuracy of the information displayed on externally linked third party websites. The Scottish Friendly Group of Companies consists of the following companies: Scottish Friendly Assurance Society Limited – Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Member of AFM, Member of ABI: Life, Savings and Investments. Scottish Friendly Asset Managers Limited – Authorised and regulated by the Financial Conduct Authority. Member of IMA. Registered in Scotland No 187215: OEIC Managers, ISA Managers. Scottish Friendly Insurance Services Limited – Authorised and regulated by the Financial Conduct Authority. Registered in Scotland No 113007. SFIS (Nominees) Limited - Registered in Scotland No 397351. Head office: Scottish Friendly House, 16 Blythswood Square, Glasgow G2 4HJ.