23 Jul 2019
Changes to HMRCs guidance on top slicing relief mean it may no longer be as quick and easy to determine if there's additional tax to pay when a bond is surrendered. In some cases, the shorthand method could now be a shortcut to the wrong tax destination.
Bonds enjoy unique tax treatment which can play a key role in holistic tax planning. Getting to grips with how top slicing relief is calculated is now essential to ensure your clients understand what tax may be payable on bond surrenders.
Read Standard Life’s article to understand:
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