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Help with tax on a bond
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charlie11
Posts: 24 Forumite
Should I pay tax on a pru bond if it takes my total income with my pensions over £10,600 ?I am 60 and took early retirement.
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Comments
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The bond is taxed at source and as long as you dont become a higher rate taxpayer (or close to one), there is no further tax to pay.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
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I'm not sure if prudential do an offshore bond but just in case, there would be tax to pay in this case.
With onshore bond it's as Dunstonh says - no tax unless the top slicing relief takes you into higher rate tax.0
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