Which bond to take money from

Susan1942

I need to take some money from an investment bond as I am helping my Son out with a deposit for a house This money will be a gift so will not be replaced
I am trying to decide which bond to take the money from I have never taken anything from 2 of them so there will be on tax implications or penalty to pay
I am wondering if I should take the money from the one which is doing less well Initially this bond lost almost a third in the first 18-24 months It has not recovered and so doing better The other bond I am considering has done well from the start Not sure if the 1st bond is doing well now so do I leave it or do I take the money from the one which has got the greater amount in it The initial investment in each was the same I suppose I could split it and take a bit from each I know it is my decision at the end of the day I did have a Financial Advisor but he has not contacted me in a long time I was not all that happy with him He also probably knows that I don't really have any further money to invest as I am retired so he is not going to get any commission from future investments Any thoughts
Appreciate any input Sue

xylophone

Exactly what sort of bond are these?

kidmugsy

Are these the sort of insurance bond where you can take out 5% of the original value every year (cumulatively) without facing a tax bill?

Susan1942

I see one is a Flexible Investment bond and the other Investment Portfolio Bond another is also Investment Portfolio but I don't want to withdraw any cash from this one as I have taken money previously from it on several occasions
Thanks Sue

Susan1942

Yes they are which is why I don't want to withdraw anything from the 3rd bond
I have not withdrawn anything from the first 2 and have held them both for 12 years so no tax implications
Sue

kidmugsy

I suppose one logical thing you could do is to withdraw money so that your eventual tax bill (if any) after they mature is minimised. But that means guessing at how each would grow (if at all) over the remaining eight years. I'm assuming that each has a life of twenty years.

I don't know enough about this sort of bond, and its tax treatment, to be much help to you. Sorry.

Susan1942

No there is no limit in how long I can hold them I suppose I could take something from both
Thanks for your help Sue

Susan1942

Double post

kidmugsy

One last thought. It's likely that the insurers' websites will carry an explanation of the tax rules affecting these bonds. Perhaps you might find that helpful.

Susan1942

I know I can take 5% per year and as I have not taken anything in the 12 years I have held them that roll up of the 5% there will be no tax to pay
It is more which bond to take money from The one with the highest amount as it has gained more or the one which has performed less well
At the end of the day it really does not matter too much
Thanks Did

Susan1942

Double post