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Anthony ******* N.I,No ZR 01 27 og B JA: Have you talked to a tax professional about this? Customer: Anthony ******* N.I.No. ZR 01 27 09 B JA: Anything else you want the Accountant to know before I connect you? Customer: I have just surrendered policy no. H64016662 a unit linked investment policy with Royal London. This policy has matured over a 25 year period. The surrender value £21,123.80. my gain being £16123. My income is from a personal pension and my state pension and I am in the low tax bracket. Do I have to pay tax on the gain in value? JA: What are the assets or property for this capital gain? Customer: No other assets from this gain. The money being used to supplymeny
Hello, I am one of the experts on Just Answer and pleased to be able to help you with your question.
Was this a life insurance policy?
How much was the premium?
How horrid, my sympathies are with you. In my opinion this gain is outside the scope of UK taxation and I would advise theta you emulate Brer Fox, 'For he lay low and say nuffin.'