Tax Exempt Savings Plan
For our tax exempt savings plan with life cover click here >>
Our popular regular monthly or annual premium savings plan with a maximum investment of £25 per month or £270 per annum, and a guaranteed sum assured. The growth of your investment and maturity values are tax-free under current legislation, which may change in the future.
You can open your plan with as little as £5 per month - which makes it great for children. Even though a child may not have his/her own income, an adult may pay the subscription on his/her behalf. This is an ideal way to build up a lump sum - perhaps as a coming of age gift or to help with school/university fees.
Our Tax Exempt Savings Plan is flexible - you choose the period, from a minimum of 10 years to a maximum of 25. Providing that the plan runs to its planned maturity date, Sheffield Mutual will, depending on the amount you wish to save and for how long, guarantee a minimum sum assured. The final value will depend upon investment performance but tax free bonuses are declared by the Society's Committee of Management acting on actuarial advice, each year, and this is added to your guaranteed sum assured. For your peace of mind, once added this bonus cannot be taken away.
Download our Tax Exempt Savings Plan Brochure (1.36 MB)
More detailed information is available in the brochure linked above. For further details, or to make an application, please click the following link:
