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Posted Mon, 04 Nov 2024 15:30:12 GMT by orla Wallace
I am a UK tax resident. I also submit a US Tax return. My husband died and I got a life insurance pay-out of $40k in US. It was declared on my US tax return but I did not loose any tax in the US. I have brought the money into the UK. Does it need to go on my self assessment return and is it taxable ?”
Posted Tue, 05 Nov 2024 11:11:05 GMT by HMRC Admin 34 Response
Hi,
Please see the following link for guidance:
HS321 Gains on foreign life insurance policies (2023)
Thank you

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