I am executor of a will cashed in a fixed rate bond that belonged to someone now deceased ( over 80 and a basic rate tax payer). I now see Britannia stopped 25% tax. I thought it would be 20% Who is right?
- posted
12 years ago
Fixed rate bonds
Loading thread data ...
- Vote on answer
- posted
12 years ago
20% of the gross figure is 25% of the net figure. I suspect you're confusing net and gross.
- Vote on answer
- posted
12 years ago
Thanks, excellent answer. I see now it is net interest for the closing balance but gross interest for all previous interests so, as you say, it works out at 20% Now more forms to get it back from the tax man :-)