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Bonus Policy
5erge
Posts: 108 Forumite
Fellow MSE'ers,
I recently cashed in early on a long term cashbuilder policy, accruing 18k in bonuses over a 14 year period.
Tax has already been paid on the policy but even so would I need to declare this on my 2015/16 tax return and would top slicing come into effect seeing as I have been receiving bonuses over a 14 year period?
Friendslife are saying I don't need to declare as there is no chargeable gain on the policy but I'm not so sure.
Cheers
Des
I recently cashed in early on a long term cashbuilder policy, accruing 18k in bonuses over a 14 year period.
Tax has already been paid on the policy but even so would I need to declare this on my 2015/16 tax return and would top slicing come into effect seeing as I have been receiving bonuses over a 14 year period?
Friendslife are saying I don't need to declare as there is no chargeable gain on the policy but I'm not so sure.
Cheers
Des
£56/279
0
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