Chargeable event gains and the personal allowance

If I have £40k of taxable income and dividends (no other income) and fully surrender an onshore bond with a chageable event gain of £150k, I disclise the full £150k in my tax return under Other UK income, Life Insurance Gains. The top slicing relief to which I am entitled is automatically calculated via the self assessment form. But what is the impact on my Personal Allowance? Is the £150k included in "adjusted net income" so I lose my PA entirely? And, if yes to that, is the effect to reduce the 40% threshold so I pay 20% tax on income up to £37,700 and 40% on the income above that?

Hi ,
 

For an individual whose ANI exceeds £100,000, the amount of the personal allowance available to them in that tax year is reduced accordingly in accordance with ITA07/PT3/CH2/S35(2). This therefore means your salary will therefore have additonal tax to pay . Thank you .