Guaranteed income bond,tax rate?

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friar Posts: 69 Forumite

21 October 2008 at 8:57AM in Savings & investments

I had a small amount in an AIG Guaranteed income bond that was repaid last week.(Phew!)
When taken out I was told,since it has a wrapper as a life bond,tax will be deducted at 20%,and no further required even if you are a 40% tax payer.
Anyone have experience of this to confirm please?

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Guaranteed income bond,tax rate?

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