17th June 2019
Top slicing relief for bonds taxation: the facts (10 minutes)
10 minute CPD reading
What you need to know about top slicing relief: how it works and more
Key Points
- Top slicing relief can assist in reducing the rate of tax charged on bond gains by applying a spreading mechanism
- For a full surrender of an onshore or offshore bond, always top slice by the number of complete years back to commencement
- Where there is an ‘excess event’ such as a part surrender gain then the rules are more complex
- This article reflects recently revised HMRC guidance