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Investment Bond With Profits

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  • July 17, 2006 at 7:39 am #22457
    webmaster
    Keymaster

    Please can we have any opinions on the following.

    How do we treat Investment Bonds with profits ?

    Do we us the surrender value ?

    Do we use the total value of the bonds ? or

    Do we use the total value less 10% ?

    Thank you.

    July 18, 2006 at 2:01 pm #8108
    chris harvey
    Participant

    None of those if there is an element of life insurance attached (which is common on with profits bonds). These are fully disregarded in the regs so the value is nil. There is some caselaw to support this but can’t think of the name of the case at the moment.

    July 18, 2006 at 4:00 pm #8109
    Stephen Murray
    Participant

    Chris are you perhaps thinking of R(IS)7/98?

    http://www.osscsc.gov.uk/aspx/view.aspx?id=765

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