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!
How to select top slicing in Tax Return
Options

JimbotheFirst
Posts: 1 Newbie
in Cutting tax
Hello
On this years' return, I have a Life Insurance policy surrender gain which takes me into the higher rate by around £3k, The value is 12292, so notional tax of 4916, over 27 years. However, the top slicing relief is given as only £0.01! I seem to recall an option for this relief when I was completing the return and, in my ignorance, possibly selecting 'No'. I have crawled back through the return, but now can't find the option question. I could try deleting the return and starting anew to see if this helps (most of the chore is collating the data, so not a big task to re-input).
But firstly, can anybody advise on this topic please.
On this years' return, I have a Life Insurance policy surrender gain which takes me into the higher rate by around £3k, The value is 12292, so notional tax of 4916, over 27 years. However, the top slicing relief is given as only £0.01! I seem to recall an option for this relief when I was completing the return and, in my ignorance, possibly selecting 'No'. I have crawled back through the return, but now can't find the option question. I could try deleting the return and starting anew to see if this helps (most of the chore is collating the data, so not a big task to re-input).
But firstly, can anybody advise on this topic please.
0
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 351.1K Banking & Borrowing
- 253.2K Reduce Debt & Boost Income
- 453.6K Spending & Discounts
- 244.1K Work, Benefits & Business
- 599.1K Mortgages, Homes & Bills
- 177K Life & Family
- 257.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards