Top Slicing

Nath

I am sure I know the answer to this but haven't worked on multi chargeable gains for a while. If the client has held the bond for 23 years the top slicing is for the full 23 years and not 20? I am sure it is, but no doubting myself.

Thanks, N

benjaminfabi

Correct. 20 years is only relevant for the 5% tax deferred withdrawal.

Nath

Exactly my thoughts but I just started doubting myself and knew you would know the answer so thanks.

arongunningham

yeah agree with 23 (or last time a gain was made)

Nath

Hi Aron
On a full surrender though, its top sliced back to the start isn't it rather than last event for onshore bonds? Pru says its only for partial you go back to last gain/event for onshore?

JoeColeman2018

Hi Nath

Full surrender is whole policy years since the start where as excess event is number of years since last excess gain....

Hope that helps.

Cheers,
Joe