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When does the interest on my fixed rate bond contribute to my PSA
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?
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