Regulations for the taxing of personal portfolio bonds in the UK came into force on 2 April 1999 with...
Regulations for the taxing of personal portfolio bonds in the UK came into force on 2 April 1999 with respect to any year ending on or after 6 April 2000. In light of this, insurance companies are currently busy reviewing their PPB business to let UK policyholders know if they are subject to the additional tax on a deemed gain of 15% per annum. The issue of when an insurance bond becomes classified as a personal portfolio bond is a long and somewhat convoluted story. The story starts in early 1990, when the Inland Revenue contacted various life companies as part of a review they were then...
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