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| General Chat Discuss Endowment Tax?...I thought about selling endowment had a offer of £25K, Got 6 years left before mature, was meant to hit ... |
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31-05-2008, 20:50
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#1 (permalink) |
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Been here a while
Join Date: Sep 2007
Location: outskirts cheltenham
Posts: 453
 
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Endowment Tax?
I thought about selling endowment had a offer of £25K, Got 6 years left before mature, was meant to hit £40K. With the Pru with Profits looks like will be about 35K if i leave it there. If i sold it and invested it in a high interest acct would i be liable for tax apart from on the interest.
Sad to say i am in the normal tax payer band  and not at the higher end
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01-06-2008, 11:51
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#2 (permalink) |
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Forum Regular
Join Date: Feb 2006
Location: Surbiton Surrey
Posts: 668
   
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Re: Endowment Tax?
If the profit is over 9600 then AIUI you would have to pay Capital Gains Tax.
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01-06-2008, 13:02
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#3 (permalink) |
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Been here a while
Join Date: Sep 2007
Location: outskirts cheltenham
Posts: 453
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Re: Endowment Tax?
Can u enlighten me as to wtf is AIUI. Thanxs
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