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Posted Fri, 21 Apr 2023 18:23:28 GMT by Daniel2023
Before moved to UK, I got a Refundable health insurance in Hong Kong, which I paid monthly premium for 10 years (i.e. 120 times the monthly premium), I will get back 100 times the monthly premium. I did not claim for any medical benefit thru out the insured period. Now, I moved into UK and become UK Tax resident. When this policy matures, I will get back such Maturity Benefit . Do I subject to any tax on this ? As my net paid to insurance company is more than what I get back from insurance company when the policy is matured, In my understanding, no "Gain" is arose.
Posted Thu, 27 Apr 2023 13:19:11 GMT by HMRC Admin 32

This income is only taxable in Hong Kong and should not be declared to HMRC.

Thank you.

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