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Posted Thu, 10 Nov 2022 16:51:57 GMT by BlueDonkey
Hi I have a"Guranteed Savings Plan" originally started with Teachers Assurance in 2013, which transferred to LV a few years ago. I am looking to surrender but the adviser on the phone said it could be subject to tax - I was always of the view that this was not taxable and am concerned that I'll be stung with a tax bill if I do surrender it Have been on hold to HMRC for hours with no joy at getting through, and the Teachers Assurance website tells me nothing (neither does LV) Can anyone advise? Thanks
Posted Tue, 15 Nov 2022 12:04:06 GMT by HMRC Admin 32

This sounds more like an insurance policy that you would be able to receive a tax free lump sum.

You should telephone to supply specific details as we are unable to access customer accounts on the forum.

Thank you.

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