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Standard Life: top slicing relief changes advisers need to know

Tax Trust and ISA news for Financial Advisers and Paraplanners

23 Jul 2019

Standard Life: top slicing relief changes advisers need to know

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: 

  • What has changed? 
  • How is top slicing relief calculated? 
  • Should you still be using the shorthand method?
  • When is relief available?
  • Could more change be on the way?
If you click on the links in this email, Panacea will share your contact details with Standard Life for the purposes of contacting you to provide further information on products and services they believe will be of value to you and your clients.
Top Slicing
Read more about top slicing here.
You can also visit our dedicated website Techzone to access a wealth of information to answer your tax pension queries. 
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