Endowment & tax query.

jase747

Hello everyone,

Just wondering, if I sell my Endowment policy, do I have to pay tax on the proceeds I recieve?

Many thanks;)

Trying_to_be_good

Whilst I don't know the answer, I think the relevant information needed is:

How long was the policy for?
How long have you held it?
Are you a higher rate taxpayer?

Though this may only be for cashing it in, rather than selling it.

I found this link on google: http://www.abouttradedendowments.co.uk/tax_issues.html, but it seems to relate to the sale of a traded endowment policy (i.e. not the first sale by the original endowment holder).

Someone who knows stuff will be along...

Angilion

I tried to find this out myself and I'm not sure.

I think that it doesn't matter for tax purposes whether you cash it in or sell it - the tax point of view is that it's money either way.

I think that you aren't liable for tax if you sell it after more than 10 years.

But I don't know, and I'd like to know.