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Posted Sat, 14 Oct 2023 15:18:14 GMT by
At the end of a 5 year bond, would I potentially pay the lower rate of tax (20%) on the profit or gain made after 1 year's tax allowance is taken into consideration or would I be allowed more than 1 years allowance (5 years?). In this simple case, assuming no other savings would potentially be subject to CGT.
Posted Wed, 18 Oct 2023 12:56:01 GMT by HMRC Admin 32 Response
Hi,

No you cannot use previous years allowances, only the allowances in the year the bond matures.

Thank you.

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