JohnRoss Posted May 25, 2010 Share Posted May 25, 2010 Every year Siddalls send us a letter telling us how much to declare and where to declare it for the sale of units on our CMI bond. In the past they have said declare in box TR on both forms, 2042 and 2047, but this year they have said use box CH as the life assurance has been held for more than 8 years. Does anyone know the significance of this?.....................JR Link to comment Share on other sites More sharing options...
parsnips Posted May 25, 2010 Share Posted May 25, 2010 [quote user="JohnRoss"]Every year Siddalls send us a letter telling us how much to declare and where to declare it for the sale of units on our CMI bond. In the past they have said declare in box TR on both forms, 2042 and 2047, but this year they have said use box CH as the life assurance has been held for more than 8 years. Does anyone know the significance of this?.....................JR[/quote]Hi, After 8 years there is a tax-free allowance against the gain element of withdrawals (4 600€ -single, 9200€ married). As only the gain within a withdrawal is taxable this should mean that all your withdrawal is tax-free (unless you make a huge withdrawal or have been lucky enough to make massive gains within the plan). Link to comment Share on other sites More sharing options...
JohnRoss Posted May 25, 2010 Author Share Posted May 25, 2010 Good news then and thanks. I take it that you mean the 4600/9200 refers to the gain element and not the amount of withdrawal itself?..........JR Link to comment Share on other sites More sharing options...
mint Posted May 25, 2010 Share Posted May 25, 2010 Drinks are on you then, JR?[:D] Link to comment Share on other sites More sharing options...
JohnRoss Posted May 25, 2010 Author Share Posted May 25, 2010 Vittel plus ?................JR Link to comment Share on other sites More sharing options...
JohnRoss Posted May 25, 2010 Author Share Posted May 25, 2010 Looking at the 2042 form it says for 2CH "Produits des contrats d'assurance-vie et capitalisation d'une durée d'au moins 6 ou 8 ans". Siddalls have said declare in CH. Can this be right? Am I interpreting this incorrectly?....................JRSorry silly me it means at least and not as I first thought less than...............doh! Link to comment Share on other sites More sharing options...
parsnips Posted May 25, 2010 Share Posted May 25, 2010 [quote user="JohnRoss"]Good news then and thanks. I take it that you mean the 4600/9200 refers to the gain element and not the amount of withdrawal itself?..........JR[/quote]Hi, That is correct. The 6 yr mentioned only applies if you opted for the "prélèvement liberatoire", which I'm sure Siddalls would not have recommended. Link to comment Share on other sites More sharing options...
JohnRoss Posted May 25, 2010 Author Share Posted May 25, 2010 Thanks again............JRPS I removed the other question and placed it as a separate post as the situation is not the same as this one. Link to comment Share on other sites More sharing options...
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