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CGT applicable upon surrender of foreign insurance policy

Answer
cpliu338 Liu
Posted Mon, 20 May 2024 07:41:01 GMT by cpliu338 Liu
I took out an insurance policy with AIA Hong Kong and I surrender the policy during the last tax year. I money I got back is more than the premium I have paid (one-off premium payment). The excess is about GBP9000. Should I report this as capital gain?
HMRC Admin 20 Response
Posted Thu, 23 May 2024 14:22:46 GMT by HMRC Admin 20 Response
Hi cpliu338 Liu,
No, please refer to guidance at HS321 Gains on foreign life insurance policies (2024)
Thank you.

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