Potential tax on lump sum from foreign life insurance policy

Could you help me understand whether tax is due in this situation, and if you how to work out the amount? The parent, a US citizen living in the USA, has died leaving a US life insurance policy which pays out equal amounts to his children. One is also a US citizen living there and has no tax to pay. The other three are UK citizens living in the UK. Do these three children have to pay tax on the lump sum they received by cheque (check...) from the US Insurer? If so, would it be treated as a chargeable gain subject to income tax? Finally, would the gain be reduced by contributions to the policy, or does that only apply if _they_ paid contributions?

Hi ,
 

This forum is for general queries only and is intended to help you self-serve. We are unable to provide specific advice tailored to individual circumstances. please refer to : HS321 Gains on foreign life insurance policies (2024)   . Thank you .