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tax on endowments
Danny64611
Posts: 2 Newbie
in Cutting tax
I'm want to cash in my endowment, i,ve made a small gain (under 10,000) would i be due to pay any tax
0
Comments
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Only if there's a 'chargeable event' ..... which is unusual with endowment policies.
You need to consult on that with your policy supplier when getting a surrender figure?If you want to test the depth of the water .........don't use both feet !0 -
O.k. Many thanks.0
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And, really only then if you are a higher rate taxpayer as there is generally deemed basic rate tax attached to that chargeable event.0
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