Standard Life: Top slicing relief changes advisers need to know


Changes to HMRCs guidance on top slicing relief mean it may no longer be as quick and easy to determine if there's additional tax to pay when a bond is surrendered. In some cases, the shorthand method could now be a shortcut to the wrong tax destination. 

Bonds enjoy unique tax treatment which can play a key role in holistic tax planning. Getting to grips with how top slicing relief is calculated is now essential to ensure your clients understand what tax may be payable on bond surrenders. 

Read Standard Life’s article to understand: 

  • What has changed? 
  • How is top slicing relief calculated? 
  • Should you still be using the shorthand method?
  • When is relief available?
  • Could more change be on the way?
If you click on the links in this email, Panacea will share your contact details with Standard Life for the purposes of contacting you to provide further information on products and services they believe will be of value to you and your clients.

Top Slicing
Read more about top slicing here.

You can also visit our dedicated website Techzone to access a wealth of information to answer your tax pension queries. 

Law and tax rules are likely to change. Your client's circumstances and where they live in the UK will also have an impact on tax treatment.
Kind regards

Derek Bradley, CEO
Panacea Adviser
Panacea is a trading style of Grantmell Ltd. Company registration number 5688007

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