Portfolio Bond Legal and General

£100k invested in 2007 with 5% withdrawals made since 2012 (12 x £5k = £60k). Bond value today £109k.approx several questions . Can I withdraw more than 5% in years 18, 19 and 20 as I didn't draw anything in the first 5 years ? Do these £5k withdrawals count against my personal tax allowances of £12.5k a year, or are they 'exempt' as they're tax paid ? After year 20 do the 5% withdrawal option end ? Assuming by year 20 i've withdrawn all my 5%'s (ie £100k) so only the 'profit' remains (approx £80k) , provided I don't have income above the 40% tax level can I withdraw the profit gradually over remaining years tax free ?

Hi,
Please refer to guidance at:
HS320 Gains on UK life insurance policies (2024)
Thank you

Ok...does top slicing apply to each separate bond..if there were two or more policies with different companies,

Hi,
It applies to the total chargeable event no matter how may are held.
Thank you.