Endowment Surrender Tax Implications

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shellbell63 Posts: 67 Forumite

23 September 2008 at 4:49PM in Mortgage-free wannabe

We have 2 unit linked endowments in joint names, which if we surrender, together with savings, would enable us to clear our mortgage.
We are just into higher rate tax - so question is will we be taxed or have any CGT on surrender values.
Both due to mature 2013. 1 taken out May '88 & other May '93. So both over 10 years & 3/4 way thru'.
Neither are performing great (are any), & it seems we are chucking good money after bad by keeping them.

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Endowment Surrender Tax Implications

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