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Scottish Friendly Society
FatDickie
Posts: 74 Forumite
I bought some goods from Amazon recently and chucked in the box was a leaflet from the above company advertising Tax Free Friendly bonds.
They say that in addition to an ISA, you can invest up to £25 per month in a 10 year plan......tax free.
At the end of the 10 years your "bond" is repaid with Bonus's .........tax free. It also has life cover built in.
Is it me or is this an Endowment Policy but under a different name?
http://www.scottishfriendly.co.uk/scottish-bond/index.html
They say that in addition to an ISA, you can invest up to £25 per month in a 10 year plan......tax free.
At the end of the 10 years your "bond" is repaid with Bonus's .........tax free. It also has life cover built in.
Is it me or is this an Endowment Policy but under a different name?
http://www.scottishfriendly.co.uk/scottish-bond/index.html
Mortgage and totally Debt Free as of December 2008.
boy does it feel good!
boy does it feel good!
Thanks MSE for all the tips and advice
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Comments
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they are savings endomwents but tax free. They should have been abolished years ago but they seem to cling on. They are a dinosaur of a plan with high charges which exceed the tax saved. Avoid at all costs.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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They should have been abolished years ago but they seem to cling on.
The reason for this is they are a unique selling point for friendly societies, without which most of these mini mutuals would go to the wall. You may think that this does not pass the "so what, who cares ?" test, I would be inclined to agree:rolleyes:Trying to keep it simple...
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