Apologies as this is a very naive question.
My wife's aunt has a investment bond (Standard Life International Bond).
Since moving into a care home her flat has been rented out, and an accountant does her self-assessment, and the rental income together with her pensions, puts her just into the 40% tax bracket.
Reports from the investment manager arrive on a regular basis, and the dividends are reinvested. No withdrawals have been made.
In the pre-submission self-assessment the accountant has included the figures for these bond dividends in tax return. My understanding is that the fund would already be deducting 20% tax.
Is it correct to include the figures because she is a higher rate tax payer?
Thank you
ps I note that the report is entitled "Standard Life International" without the words "Investment" "Bond" so the accountant may not realise the portfolio is within an investment bond.
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