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Topic: Income tax

Top slicing relief calculator
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Top slicing relief calculator

Top slicing relief calculator

When you cash in a life insurance investment bond the amount you receive in excess of the amount you invested is taxable as income. Where you make a partial encashment you might be taxable on the proceeds even if you have made no profit. Depending on your level of income and how long you’ve had the investment you may be entitled to reduce the tax payable with top slicing relief.

How the calculator works

Using details provided by the insurance company and regarding your income, our calculator works how much top slicing relief you can claim.

 

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