Taxation of Investment Bond Withdrawals
The presentation will look to compare the policyholder tax treatment of part surrenders and full segment surrenders from investment bonds. It will also consider the implications of part surrenders which are followed by full surrenders. There session will include a brief overview of deficiency relief.
By the end of the session delegates will be able to:
- Understand some of the main taxation issues relating to investment bonds, especially on surrender
- Compare the different tax treatment of part and full segment surrender.
- Understand the provisions for appealing to HMRC where a chargeable event gain is “disproportionate”.
- Discuss and explain this subject with a client in a clear and concise way
- Apply this knowledge to appropriate, individual, client scenarios
Speaker Bio: Barry Foster, BMO Global Asset Management
Barry’s career in financial services began in 1997 and he has held roles as a Financial Adviser and Business Development Manager.
For the last 11 years Barry has been a Technical Sales Manager. Originally with AXA Wealth (latterly Utmost Wealth Solutions) before Joining BMO GAM in 2019. He delivers workshops, seminars and technical assistance to financial advisers covering tax, trusts and pensions.
Barry has achieved Chartered Financial Planner status and Fellow of the Personal Finance Society, as well as holding the Investment Management Certificate (IMC) and the STEP Certificate in Financial Services and the STEP Diploma.
This demonstrates the quality of an event and that it meets CII member CPD scheme requirements.
1 1/2 hours' CPD can be claimed for this event if relevant to your learning and development needs.
It is recommended that you keep any evidence of the CPD activity you have completed and upload copies to the recording tool as the CII may ask to see this if your record is selected for review. Details of the scheme can be viewed online at www.cii.co.uk/cpd.