Insurance Bond Taxation: You just see what tax band the slice is in, right...?

Presented by

Les Cameron, Head of Technical, Prudential

About this talk

Insurance bonds have, and continue, to play an essential part in financial planning. In recent years there have been several changes affecting the calculation of tax on any gains. We've seen changes ranging for the time apportionment changes back in 2013, the introduction of the personal savings allowance, and more recently, the "Silver case" resulting in the changes announced in the 2020 Spring Budget. Long gone are the days of checking how much of the slice was in the basic rate tax band to work out your top slicing relief. In this session we bring you bang up to date with how the taxation of insurance bond gains works with a focus on the calculation of top slicing relief, and show you how one of Prudential's flagship planning tools can help ease the pain of crunching those tax numbers. Learning outcome • Understand the taxation of insurance bonds for UK resident individual owners. • Understand how Prudential's tools and calculators can assist with tax calculations for bond gains.

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