We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
📨 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!
When does the interest on my fixed rate bond contribute to my PSA
Options

Law4927
Posts: 1 Newbie
I took out a Fixed rate bond with the PRU a few years ago, now I want to use some of this investment to help my daughter buy a house.
I've been informed that if I withdraw a large amount from this bond the interest I made will contribute to my PSA for that year I make any withdrawals.
I have not made any withdrawals since taking out the Bond and any gains I made were re invested. I'm not sure if the interest was made available to withdraw by me each year???
I assumed that the tax was paid by the PRU each year
How's the best way to tackle this?
I've been informed that if I withdraw a large amount from this bond the interest I made will contribute to my PSA for that year I make any withdrawals.
I have not made any withdrawals since taking out the Bond and any gains I made were re invested. I'm not sure if the interest was made available to withdraw by me each year???
I assumed that the tax was paid by the PRU each year
How's the best way to tackle this?
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 351.1K Banking & Borrowing
- 253.1K Reduce Debt & Boost Income
- 453.6K Spending & Discounts
- 244.1K Work, Benefits & Business
- 599K Mortgages, Homes & Bills
- 177K Life & Family
- 257.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards