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Posted Sat, 22 Apr 2023 18:25:42 GMT by Ivanka
Hi, I redeemed my life insurance policy and got a lump sum of money but the sum is less than what I had contributed over the years. It means a loss. Then, do I need to report in my self-assessment return? If I need to report, how should I report that? Can I deduct the loss from my overall income? Thanks.
Posted Thu, 27 Apr 2023 14:49:10 GMT by HMRC Admin 32

You do not need to report it and you cannot claim the loss against anything else.

Thank you.

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