Exit tax on QL fund and CGT?

N

Nomansland

Registered User
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I cashed in on some of my Quinn Life freeway funds last March. Quinn calculated the tax due on this (23%) and done the return for me. In other words they payed out the net amount due minus tax. The tax due was something like 1K. My question is am I allowed to claim this tax back as part of my yearly CGT free allowance. I have not made any other encashments on policys or sold any other shares that would have incurred CGT this year.
Thanks in advance.
 
Re: Query on CGT payed on Quinn Fund

No - the exit tax (standard rate + 3%) is your full liability on such investments. This is not CGT so any CGT issues such as annual exemption are irrelevant.
 
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