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Tax position when cashing in whole life policy
wimphot
Posts: 4 Newbie
I am thinking of cashing in a whole life policy which I started in 1974.
I thought as it was/is whole life policy I would not be able to do this but the Financial Institution who now hold the policy have sent me the forms and NOT said I cannot.
In any case that's not the point.
What I am trying to find out is the likely tax position.
If it's at all relevant I have never claimed tax relief on the contributions.
I realise this one to ask my accountant but as I am between them at the moment I am hoping for some thoughts on here
Thank you
I thought as it was/is whole life policy I would not be able to do this but the Financial Institution who now hold the policy have sent me the forms and NOT said I cannot.
In any case that's not the point.
What I am trying to find out is the likely tax position.
If it's at all relevant I have never claimed tax relief on the contributions.
I realise this one to ask my accountant but as I am between them at the moment I am hoping for some thoughts on here
Thank you
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