Endowment misselling

"zero" wrote

How is it being paid? - increase to endowment policy, -or- reduction in outstanding mortgage balance, -or- ... ?

Hoping for a big cheq actually

didnt think of the other options

Yes

I do like that answer. I've just been sorting out my endowment also as it was going nowhere fast.

So, you can release your funds as cash and the tax man will be ok and not slap some silly 40% tax bill on the hard earned money you have in some silly policy if you surrender it?

If they do, they st> zero wrote:

"anthony" wrote

Has the policy been in force for 10 years yet?

No tax is due unless there is a gain, and the policy has not been in force for 10 years.

It only applies to higher rate taxpayers (or those who become higher rate by virtue of the policy gain).

The tax rate is a 20%. The tax due can be lessened or eliminated through Top Slicing Relief.

think you've misunderstood the question

i'm not asking about selling a "bad" policy i'm asking for "damages" i guess from the idiots that sold me the policy

thanks

"Kenny Lingus {@rednoyeulb.co.uk>"

No, my policy has been in force about 6 years.

If you are going to complain about this you have to have some reason for a complaint. It can't be 'I think I was missold a policy'. Why do you think you were missold it? Why were those who sold it to you idiots? Would you be trying this on if it weren't for the compensation culture? How do you know you won't be quids in when the policy term expires? What are the 'damages' for and how much should they be?

Rob Graham

cheers for the input

now have a nice day at school . . .

"zero" wrote

With that attitude, you won't get very far with a misselling complaint. :-(

Now, now. Don't stamp your foot.

If you'd answered my questions then maybe we could get somewhere.

Rob

rob old bean - i'm not asking for somebody to decide if my case is just

i'm asking about the tax side of a potential payout

rather optomistic of me but there you go . . .

all this "Why do you think you were missold it?" is irrelevant as far as my question is concerned

is all now clear ?

:-)

My "attitude" was to Robins rant (which you have chosen to ignore of course)

all this "Why do you think you were missold it?" is irrelevant as far as my question is concerned

maybe you should also go to school and learn to READ THE BLOODY QUESTION

In message , zero writes

Not to me it isn't.

You said

"i'm asking for "damages" i guess from the idiots that sold me the policy "

So, what makes you think you deserve 'damages'.

Why do you now think they are idiots?

Why did you buy form idiots?

"zero" wrote

Ermm - perhaps not. Did you not consider that the tax status of any "damages" payment may depend on the *circumstances* of the payment?