Skip to main content

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

Tax on insurance money

Answer
durucskoa
Posted Tue, 22 Oct 2024 02:49:35 GMT by durucskoa
Hello, I have had an insurance running until I was 18 and my money was sent to both my parents account after it expired. Is it possible for them to transfer the money to my bank account without tax afterwards? We are not English so one of them are abroad, if that matters.
Answer
HMRC Admin 19 Response
Posted Tue, 29 Oct 2024 09:48:29 GMT by HMRC Admin 19 Response
Hi,
You can see guidance here:
HS320 Gains on UK life insurance policies (2024)
HS321 Gains on foreign life insurance policies (2024)
Thank you.

You must be signed in to post in this forum.