Tax Free Savings Plan
With the Tax Free Savings Plan from LV= you can build a tax exempt lump sum even if you already have an ISA.
Tax Free Savings Plan at a glance:
- You can save £25 a month for 10 years or more whether you are using your ISA allowance or not. Tax Free Savings Plans are only available from friendly societies like LV=
- You can apply for a Tax Free Savings Plan if you are aged from 17 to 74 and are a UK resident (excluding Channel Islands and the Isle of Man).
- You can also take out a tax free savings plan on behalf of a child with our tax free savings plan for children.
- Unfortunately, if you already have one of these types of plans, with either LV= or another provider, you won't be able to take out our Tax free Savings Plan.
- Couples can effectively double their tax exempt savings by having a separate plan each (joint plans are not available).
- The Tax Free Savings Plan is a stock market related investment so you are not certain to make a profit and no reclaims of tax can be made on dividend payments received within the fund.
- If the Government changes the tax treatment of tax free savings plans, this may reduce the potential growth from the investment.
Tax treatment depends on your personal circumstances. Please refer to the Key Features document for more information on how your contributions and benefits from this plan will be taxed. Any references to taxation are based on our understanding of HM Revenue & Customs practice, which is subject to change.
Please note that the information on these pages should not be considered as advice to take out our Tax Free Savings plan. It is up to you to decide whether it is suitable for you. If you are in any doubt as to the suitability of our Tax Free Savings Plan you should seek independent financial advice.
