Skip to main content

This is a new service – your feedback will help us to improve it.

Posted Wed, 13 Dec 2023 13:09:28 GMT by
Dear Sir, I have a life insurance policy in Hong Kong which has an investment component and may properly declare dividend every year. For example the annual premium is $10,000, and after the first year the insurance company distribute $3,000 dividend to me. I can apply such $3,000 to set-off my insurance premium and thus the cash outflow for the second year will be reduced to only $7,000. In this case, do I need to declare such $3,000 as an income for first year? Please kindly advise. Thank you.
Posted Tue, 19 Dec 2023 11:12:50 GMT by HMRC Admin 32 Response
Hi,

Please refer to guidance at:

HS321 Gains on foreign life insurance policies (2023)

Thank you.

You must be signed in to post in this forum.