We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Decision
higueron
Posts: 47 Forumite
Hi I am looking for some advice I have a Friends Life flexible bond and a Legal & General ISA both are worth roughly the same amount I require some cash at the moment but cant decide which one to redeem
I assume I would have to pay tax on the flexible bond but which one is best to keep ?
I assume I would have to pay tax on the flexible bond but which one is best to keep ?
0
Comments
-
I assume I would have to pay tax on the flexible bond but which one is best to keep ?
Depends on how much you draw and whether the chargeable event, if there is one creates a higher rate tax liability.
If no tax liability, then the bond is usually the better one to use (although there are some pros and cons - e.g. bonds are not included in means tested benefits. ISAs are)I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.7K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.7K Work, Benefits & Business
- 600.2K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards