Scottish Provident International is reviewing all of its Personal Investment Portfolios held by UK residents ahead of new tax regulations.
From April 6, 2000 UK personal portfolio bonds will be taxed an additional 15 per cent a year for "deemed gains" made on the investment.
The life office says the review will be completed by mid December. It will then contact policyholders advising them of the effect of the legislation and of the options are available.
Policyholders then have three months to decide what they wish to do with their investment before the additional tax charge becomes payable.