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Endowment Surrender

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Bonzo 2000 | 09:33 Sat 24th Sep 2005 | Business & Finance
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If I cash-in an endowment policy before it matures, will the proceeds be liable for income or capitals gains tax?
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Avatar Image Loosehead
Most endowments are "qualifying" so no, probably not. "qualifying" means that they offer enough life cover for the inland revenue to be satisfied that it is not purely an investment vehicle.
13:10 Sat 24th Sep 2005

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