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ChatterBank1 min ago
Capital investment bond
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I regularly receive withdrawals from a capital investment bond (not a with profits fund) Do I have to tell the taxman? If so where is it entered on my personal taxform?
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If you are a non-taxpayer or basic rate taxpayer, no further income tax will be due.
If you are one of those people that HMRC requires to complete an annual tax return, you should complete the details in the Tax Return section that deals with investment income on which tax has already been paid - probably the same section in which you detail any building society account interest you have received.
If you are one of those people that HMRC requires to complete an annual tax return, you should complete the details in the Tax Return section that deals with investment income on which tax has already been paid - probably the same section in which you detail any building society account interest you have received.
Hmmm, don't think so. 'Income' from an insurance bond is not income, it is a return of your own capital. If it is up to 5% of the initial investment each year then no tax is payable at the time. Income tax may be payable in accordance with BuidersMate^ on final encashment but not until then. Check what kind of bond it is with the adviser who sold it to you.
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