I wonder if anyone knows anything about this...
Mum (now in a care home) put 10k into a Norwich Union WP fund (now
called a GA Investment Bond) in 1993.
The cash-in value is now 33k. Bond Value is 28k.
On the face of it there is 23k taxable gain, which I don't (I am a POA
for her) want to do; I want to keep it down to 10k in the current tax
So I could cash in slightly under 50% of it and that would definitely
be OK, presumably.
But isn't there some sort of "indexation" involved?
If it was unit-linked it would be obvious...
I'd appreciate any pointers and then if necessary I will get proper
advice on it.
I don't *need* to cash it in but it seems a good idea to crystallise
capital gains. Also I am under pressure from my sister (also a POA for
Mum) to cash it because she is into all sorts of spiritual stuff and
is certain the stock market is about to crash! (not kidding).
- posted 7 years ago