Budget 2008: No Change on CGT Insurance Bonds
Published / Last Updated on 11/03/2008
Budget 2008: No Change on CGT Insurance BondsIn the pre Budget speech in October 2007, Chancellor Alistair announced huge changes to capital gains tax CGT. This also had a knock-on effect for taxes inside insurance company investment funds.
This change was confirmed today and as a result, many investors should revisit their holdings for both collective investments such as unit trusts and OEICS and investments trusts and insurance investment bonds.We believe there are still strong cases for both styles of investment, whether it is investing for growth and you wish to make use of capital gains tax free allowances or if you are investing for other tax reasons such as Inheritance taxes or means tested benefits or income.
Many of you will not understand why we raise these issues as part of this budget. You really need to take advice.
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