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  • FIRST POST
    • lindabea
    • By lindabea 9th Jan 18, 8:40 PM
    • 955Posts
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    lindabea
    Prudential Investment Bond
    • #1
    • 9th Jan 18, 8:40 PM
    Prudential Investment Bond 9th Jan 18 at 8:40 PM
    My partner has a lump sum investment bond with the Pru since 2001; he has never taken any money out although he could have taken 5%/year. According to the latest statement, the gain is about 20K. We would like to know if he would be liable to additional tax if he cashes it in full.

    I been reading about top slicing relief, but not sure if this would apply. However, when adding the policy gain to his income (pension and savings interest), to determine if he goes into the higher rate, do we first deduct the personal allowance, and the PSA or is the gain added to the gross income(earnings and interest).

    Any help would be much appreciated.
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