So I've been asked by someone how top slicing relief works with an onshore bond.
I'm fairly ok with understanding the step calculation specified by HMRC which would provide relief to someone who would be taken into higher tax brackets by assessing the whole gain.
However, after making an initial investment some years ago, this person has made two subsequent, additional payments into the bond in more recent years. How would you calculate the number of years over which to slice for TSR?
Thanks in advance for your advice .