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Posted Fri, 13 Oct 2023 21:10:55 GMT by
My husband and I have recently cashed in an investment policy which has resulted in a chargeable event gain. I currently work but am below the tax paying threshold and my husband is a pensioner. Is it necessary for us to complete a self assessment? and, if so, does just one of us need to do it, or do we both need to? Thank you.
Posted Wed, 18 Oct 2023 11:33:17 GMT by HMRC Admin 10
If your share of the gain is over £10,000 then a tax return is required by both of you.
If its less, you can send in a copy of the certificate for HMRC to review.
Posted Thu, 19 Oct 2023 08:20:50 GMT by
Many thanks for your reply it is much appreciated. The gain will be shared equally - presumably we can detail this on the Self Assessment Form?
Posted Tue, 24 Oct 2023 11:23:46 GMT by HMRC Admin 10
As the gain is shared equally and for each of you will be over £10000.00, you will both need to submit a self assessment tax return.  
You can mention in the freehand notes box that this is a joint chargeable event and that you are each declaring 50% of the gain.
Posted Tue, 02 Jan 2024 14:35:47 GMT by
Following your info I applied for a UTR in October but did not hear any further. I then tried the online chat and they completed the form again for me but I still haven't received a UTR. When am I likely to receive it?
Posted Wed, 10 Jan 2024 11:24:16 GMT by HMRC Admin 19

You should have received this by now. You will need to contact us to chase this up.

Self Assessment: general enquiries

Thank you.

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