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Posted Thu, 23 Nov 2023 12:15:49 GMT by samatbacton
Both of my sons have personal investments plans set up by my husband 20 years ago when they were both under 10 years old;he is also trustee of both accounts with both sons as beneficiaries. One of my sons needs to withdraw from his account to use as a deposit on a house but we have no idea how to start and whether he will lose a chunk of it to tax. I have asked the bank who set it up for help but they say they don’t know either.
Posted Fri, 24 Nov 2023 16:06:06 GMT by HMRC Admin 25 Response
Hi samatbacton,
You will need to contact HMRC direct either by phone or in writing as further specific information will be required.
Contact details here:
Capital Gains Tax
Thank you. 

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