after some 20 years of holding a 'With Profits Bond' I have received a letter saying I have a 'chargeable event'
its only £398
and tax treated as paid is £80
But I cannot see where to show this in my online tax return...
do I have to have 'supplementary pages'
or does it go in 'gains on life policies'...whch I have not explored....yet
how has anyone dealt with this please
chargeable event !!
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- Lemon Slice
- Posts: 554
- Joined: November 10th, 2016, 10:04 am
Re: chargeable event !!
The gain should be reported in the tax return using supplementary pages SA101.mutantpoodle wrote:after some 20 years of holding a 'With Profits Bond' I have received a letter saying I have a 'chargeable event'
its only £398
and tax treated as paid is £80
But I cannot see where to show this in my online tax return...
do I have to have 'supplementary pages'
or does it go in 'gains on life policies'...whch I have not explored....yet
how has anyone dealt with this please
Include the details of the gain under ‘Gains from life insurance policies, capital redemption policies and life annuity contract’.
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- Lemon Quarter
- Posts: 4281
- Joined: November 4th, 2016, 1:17 am
Re: chargeable event !!
I haven't dealt with anything like it for around 20 years, but my vague memory is that it is indeed to do with gains on life policies. That might have changed, but a look at the 'help' information for paper tax returns (which is often more helpful than the online 'help' information, especially about the less commonly-encountered details) suggests that it's still the case: "Gains from life insurance policies, capital redemption policies and life annuity contracts" is a section in SA101 "Additional information", and the associated notes contain three occurrences of the phrase "chargeable event". I haven't investigated further, but it would probably be worth checking them to see whether they tie up with the letter you've received.mutantpoodle wrote:or does it go in 'gains on life policies'...whch I have not explored....yet
how has anyone dealt with this please
Gengulphus
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- Lemon Slice
- Posts: 851
- Joined: November 7th, 2016, 4:21 pm
Re: chargeable event !!
many thanks both
I have no objections to declaring, but as it says 'treated as tax paid' i want to make sure I dont put it somewhere that atracts tax...again !!
I have no objections to declaring, but as it says 'treated as tax paid' i want to make sure I dont put it somewhere that atracts tax...again !!