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Posted Thu, 11 Nov 2021 13:01:23 GMT by MK
Hi, I would like to know how can I declare the gain from the fund-typed insurance? Interest will be distributed every year and kept in the insurance account unless I cash out. Do I need to fill in the tax return every year for the gain?
Posted Fri, 12 Nov 2021 17:30:27 GMT by HMRC Admin 10
Hi

You would need to speak to your insurance company to determine if this is subject to tax at the time it is received or the time it is cashed out as it will depend on the conditions of the scheme.

Interest is generally payable at the time it is accured.

Thankyou.

Regards.

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