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With profits policy

Answer
Pennypops10? Davidson
Posted Thu, 19 Dec 2024 16:33:31 GMT by Pennypops10? Davidson
I opened a with profits policy in 2002 with £25,000. It is now worth £50699.70. How much tax would I have to pay if I cashed it in? or can I take an annual income from it tax free?
Answer
HMRC Admin 19 Response
Posted Tue, 07 Jan 2025 11:58:00 GMT by HMRC Admin 19 Response
Hi,
This will depend on what other income you have.
Thank you.
Pennypops10? Davidson
Posted Tue, 07 Jan 2025 13:08:00 GMT by Pennypops10? Davidson
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