Webinar: taxation of investment bond withdrawals - part 2

A look at top-slicing relief including the steps required to calculate the relief

December 2020

Barry Foster

Vice President, Strategic & Technical Sales

LEARN MORE ABOUT THE AUTHOR

PART OF 125 MINS STRUCTURED CPD

61 MIN WATCH

Subscribe to our Insights

Risk Disclaimer

This content is directed only to persons having professional experience in matters relating to personal investment (investment professionals) and should not be distributed to anybody else. It has been prepared for general information purposes only. It does not constitute advice (whether investment, legal, regulatory, tax or otherwise) provided by BMO Global Asset Management (EMEA) (BMO). Certain content in this document is based on our own reading of legislation, regulation, or guidance issued by a government or regulatory authority, as at December 2020, which is subject to ongoing change. Tax treatment is based upon individual circumstances. BMO gives no warranty or representation, whether express or implied, that such content is up to date, complete, or accurate.

Investment professionals in receipt of this document should not rely on any of its content. They remain solely responsible for advising their underlying clients in accordance with their own legal and/or regulatory obligations and for taking their own independent advice as they determine is necessary.

To the extent lawful, BMO excludes all responsibility and associated liability for any loss or damage suffered by any recipient of this document who chooses to rely on its content, whether occurring in contract, tort (including negligence), breach of statutory duty, or otherwise, even if foreseeable.

Key takeaways:

  • Understand the process of performing a top-slicing relief calculation
  • Consider the significance of the Silver v HMRC case and the 11 March 2020 Budget changes to the top-slicing relief legislation
  • Understand how the Silver case and the Budget changes affect top-slicing relief calculations

In part 2, Barry looks at top-slicing relief including the steps required to calculate the relief. He also considers the recent Finance Act amendments to the legislation and the HMRC v Silver Court judgement.

BMO Adviser Edge Taxation of investment bond withdrawals part 2 top-slicing relief

Risk Disclaimer

This content is directed only to persons having professional experience in matters relating to personal investment (investment professionals) and should not be distributed to anybody else. It has been prepared for general information purposes only. It does not constitute advice (whether investment, legal, regulatory, tax or otherwise) provided by BMO Global Asset Management (EMEA) (BMO). Certain content in this document is based on our own reading of legislation, regulation, or guidance issued by a government or regulatory authority, as at December 2020, which is subject to ongoing change. Tax treatment is based upon individual circumstances. BMO gives no warranty or representation, whether express or implied, that such content is up to date, complete, or accurate.

Investment professionals in receipt of this document should not rely on any of its content. They remain solely responsible for advising their underlying clients in accordance with their own legal and/or regulatory obligations and for taking their own independent advice as they determine is necessary.

To the extent lawful, BMO excludes all responsibility and associated liability for any loss or damage suffered by any recipient of this document who chooses to rely on its content, whether occurring in contract, tort (including negligence), breach of statutory duty, or otherwise, even if foreseeable.

Bank your CPD

Please answer the multiple choice questions below in order to bank your CPD. Multiple attempts are permitted until all questions are correctly answered.


Complete the course to claim your CPD

This article is part of a course. To claim your structured CPD, please complete the other articles in the course.

Other articles in this course
Related articles