- You must be aged 18 or over to apply for your own NFU Mutual Select Investment Plan. Alternatively, an individual over the age of 18 can invest in a Plan on behalf of a child.
- You can invest via lump sums or regular contributions. Any lump sum investment must be at least £1,000 (including top-ups), there is no maximum investment limit.
- The minimum regular contribution is £25 per month. You can stop, restart, increase or decrease your regular payments at any time.
- Any gain made when you switch/sell shares in an OEIC is potentially subject to Capital Gains Tax (CGT) at 18% or 28% depending on your individual circumstances. However, each tax year you have an annual exemption, and total gains from all sources up to this limit is tax-free. In 2014/15 the exemption is £11,000.
Prior to 31st December 2012, this product was known as the Portfolio Investment Plan. Please note that the terms and conditions of the two plans are not identical and you should refer to your original product documentation.
The information above is based on NFU Mutual's understanding of current HMRC practice and legislation which is subject to change.