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Qualifying Policy incorrectly changed to Non Qualifying Policy by AVIVA

Comments
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If the policy is encashed and a Chargeable Event Certificate is issued, it can take up to 22 months to complete the appropriate tax return and pay the liability and then AVIVA will have to be chased to pay the refund.
22 months is very extreme and you can calculate the liability pretty accurately as long as you are not split between tax bands.
At the end of the day, if you disagree with the outcome you have the right to refer it to the FOS. However, as Aviva have agreed to cover any potential loss, the FOS may not be much use as they would likely consider that adequate.
Is the plan actually still needed? These types of plans went obsolete in the 90s. Charges are high and returns are low. Are you letting the tax dog wag the tail? Is there actually going to be further tax?
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.1
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