Save for your Grandchild with Scottish Friendly
As a grandparent, you always want the best for your family.
In the current financial climate, it’s difficult to predict what life has in store! The Scottish Friendly Grandchild Flexible Plan is a straight-forward investment plan which enables you to put a little bit away every month to save for your grandchild’s future, using their tax-free savings allowance to give them a head start in life.
The Grandchild Flexible Plan can make a real difference, as it enables you to use your grandchild’s tax-free savings allowance for a maximum of 18 years by investing £25 a month. Your grandchild won’t pay tax on the growth of the investment (other than tax on dividends from UK shares), and after ten years it can be cashed in without incurring a charge. Tax treatment depends on their individual circumstances and tax law may change in future.
The plan is the property of the grandchild, not the parents or the grandparents. Please note that as with any stock market investment, the value of your investment can go down as well as up and your grandchild could get back less than you have paid in.
Flexibility is built in, allowing the plan to be cashed in early. However, if the plan value is accessed before 10 years the grandchild may have a tax charge to pay and there will be a £50 deduction from the cash-in value.
You can take out a Grandchild Flexible Plan for a grandchild currently aged under 16 and who is a UK resident.
Finally, as our welcome gift to you, we’ll send you a £25 M&S gift voucher or £25 High Street voucher when you start investing.
Would you like to know more? Pop on over to the Scottish Friendly website for further details.
Latest posts by Sally - Silversurfer's Editor (see all)
- Under the microscope – Pre-paid funeral plans from SunLife - August 12, 2019
- Do you prefer streaming to broadcast TV? - August 8, 2019
- Tailor-made Holidays USA and Canada - August 5, 2019
- See a different side of Australia with Qantas - August 4, 2019
- Five myths about ageing that we need to challenge - August 3, 2019
Leave a Comment!
Community Terms & Conditions
These content standards apply to any and all material which you contribute to our site (contributions), and to any interactive services associated with it.
You must comply with the spirit of the following standards as well as the letter. The standards apply to each part of any contribution as well as to its whole.
be accurate (where they state facts); be genuinely held (where they state opinions); and comply with applicable law in the UK and in any country from which they are posted.
Contributions must not:
contain any material which is defamatory of any person; or contain any material which is obscene, offensive, hateful or inflammatory; or promote sexually explicit material; or promote violence; promote discrimination based on race, sex, religion, nationality, disability, sexual orientation or age; or infringe any copyright, database right or trade mark of any other person; or be likely to deceive any person; or be made in breach of any legal duty owed to a third party, such as a contractual duty or a duty of confidence; or promote any illegal activity; or be threatening, abuse or invade another’s privacy, or cause annoyance, inconvenience or needless anxiety; or be likely to harass, upset, embarrass, alarm or annoy any other person; or be used to impersonate any person, or to misrepresent your identity or affiliation with any person; or give the impression that they emanate from us, if this is not the case; or advocate, promote or assist any unlawful act such as (by way of example only) copyright infringement or computer misuse.
Nurturing a safe environment
Our Silversurfers community is designed to foster friendships, based on trust, honesty, integrity and loyalty and is underpinned by these values.
We don't tolerate swearing, and reserve the right to remove any posts which we feel may offend others... let's keep it friendly!