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Is A Life Insurance Payout Taxed in The AnswerBank: Business & Finance
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Is A Life Insurance Payout Taxed

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HAMMEROFTHOR | 20:20 Wed 29th Jan 2025 | Business & Finance
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I have been told that a life insurance policy I took out can be paid as a lump sum to me or to a beneficiary. Is it liable for income tax or any other kind of tax?

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Not directly but could be liable to inheritance tax

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Thank you barry1010

Sh!  Rachel from Accounts may be on AB!

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