Cashing in unit link endowment

county1966

Hi new to all this so please be gentle

I have to unit link endowments I want to cash in early five years left to run I know I can't sell them elsewhere and have to take surrender value but can someone advise me on the if I will have to pay any tax on them

Cheers

kingstreet

If they are qualifying policies, all the tax payable has been met by the fund on your behalf.

If they are non-qualifying, there may be a chargeable gain on early surrender with any tax payable depending on your personal tax status.

In addition, the term of the plan and if any alterations have been carried out could affect the status.

There is no "fits all" way to tell, so you are going to have to ask the life office.