This is my first question on this forum therefore apologies if I am answering a common thread (which I have missed).
A client of mine has a single chargeable event on an offshore bond. The gain is £60,000 over 3 complete years. They have no other income in the year. I am happy with all of the calculations other than "Step 2" of ITTOIA 2005, s536. From reading the legislation, I believe that the personal allowance and personal savings allowance form part of the calculation in the Annual Equivilant however my software is suggesting otherwise.
Anyone have experience with this?