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Posted Tue, 16 May 2023 09:28:15 GMT by Yuen Ng
I have moved to UK since July 2021. I bought a Life Insurance 5-year Endowment policy in Hong Kong in Feb 2019. This policy will be matured in Feb 2024. The maturity value is higher than total premiums paid by around 20%. Please advise how should I report this in the tax return. Should I pro-rata the difference between the maturity value and total premium paid by the months/days I stay in UK? Besides, I have a whole life insurance policy with annual dividends paid that was insured in Hong Kong more than 20 years ago. The insurance policy is in force and the annual dividends have been accumulating in the policy since the policy issue date. If I surrender the policy now, how should I report this in the tax return? Thanks!
Posted Mon, 22 May 2023 14:22:51 GMT by HMRC Admin 5

You can find guidance here -

Gains on foreign life insurance policies (Self Assessment helpsheet HS321)

Thank you.

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