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Posted Fri, 27 Jan 2023 10:57:55 GMT by Singlemum
Hi, After my husband's death, I became the beneficiary of a life insurance policy in France. I received a capital sum which I declared to HMRC previous tax year and is apparently tax-free. But I continue to receive child maintenance payments, which are taxed at source in France. I periodically transfer this money to my UK bank account. 1. Do I declare this? Where on the self assessment do I mention this? 2. Do I need to use the gross amount (which due to a postal error I don't really know - can I estimate this on past taxes paid?) 3. If yes, where on the self assessment form do I mention this?
Posted Tue, 31 Jan 2023 12:52:35 GMT by HMRC Admin 32

Not all policies are taxable. Much depends on whether they are qualifying policies or not.  

Most foriegn policies are non qualifying policies and may give rise to a taxable gain. We are not able to advise in this forum, whether it is qualifying or non qualifying.  

Have a look at the helpsheet.

HS321 Gains on foreign life insurance policies (2022)

Thank you.

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