Endowment Tax Query

[Prudie]

Any help please, internet gives varying answers. A with profits endowment policy is shortly due to pay out £20K after 20 years. Will tax have to be paid on it? Recipient is full time employed with the standard tax code.

[factor-fiction]

No, not if it's run its course

[factor-fiction]

Have you got a link that suggests tax might be due, Prudie?

[Prudie]

Hi factor. this one for example. It's not clear (to us) on the capital gains tax issue.
http://www.money.co.uk/article/1000083-endowment-tax-issues-explained.htm

[factor-fiction]

The HMRC site suggests not. The gains probably wouldn't be anywhere near the CGT allowance anyway
http://www.hmrc.gov.uk/helpsheets/hs320.pdf

[Prudie]

Thanks for that link, reading through I believe there won't be any tax to pay.