Frequently Asked Questions
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You asked: How am I taxed on the Aviva Investment Account?
Interest from cash account part of the Investment Account or cash funds on deposit will now be paid to you without any income tax deduction. This is due to the introduction of the a new personal savings allowance which means the first £1,000 of all your savings income is free from Income Tax if you are a basic rate taxpayer. The allowance is only £500 for higher rate payers and additional rate tax payers don't receive any allowance at all.
Any dividends you receive on the investments in your Investment Account will now be paid to you without any accompanying tax credit. The new dividend allowance means dividends you receive up to £2,000 each tax year are tax free.
If you cash-in all or part of your investment, you may also have to pay capital gains tax (CGT) on any gains made above your tax-free allowance (called Annual Exempt Amount ) of £12,000 for 2019/2020. It’s the gain you make that’s taxed, not the amount of money you receive. You will need to pay any tax due, or claim a refund, through your self-assessment tax return.
Please be aware that tax treatment depends on your individual circumstances. This information is based on our understanding of current tax legislation and may be subject to change in future.
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