Finance Act 2007 confirmed that exit tax is payable on life assurance policies when they're cashed in OR on the eighth anniversary, whichever happens first.
Can anyone confirm if this also applies to existing life assurance policies, e.g. does a policy that started in 1999 pay exit tax in 2007, or perhaps eight years starting from now in 2015?
Can anyone confirm if this also applies to existing life assurance policies, e.g. does a policy that started in 1999 pay exit tax in 2007, or perhaps eight years starting from now in 2015?