Self Assessment - Do I need to declare trust income?

If I receive income from a discretionary trust (offshore bond) via part surrender of segments below the 5% annual allowance on the original bond, do I need to declare this income anywhere on my self assessment tax return or not? This has not generated a chargeable event certificate from the trust since under the 5% allowance. I don't believe it needs to be declared on the beneficiary self assessment - is that correct? I am aware there may be trust reporting requirements for IHT for the trustees but that is a separate discussion. Thanks!

Hi Steve Wilson
Please refer to guidance at:
HS321 Gains on foreign life insurance policies (2023)
Thank you.