Other Important Information
Under current legislation, any gains, including any 5% partial withdrawals from this Investment Bond will be chargeable for tax on the Bond’s closure. Tax should only be payable if when you withdraw this Bond, you are in a higher tax band or if the proceeds push you into a higher tax band. Basic Tax has already been paid on this fund.
If you withdraw more than 5% in any one year, that will trigger a chargeable event for that year, for tax purposes.
Tax legislation may change in the future. If you’re in any doubt, please take advice from a professional tax advisor – you may be charged for this advice.