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Posted Sat, 02 Dec 2023 17:08:35 GMT by A.Coats
Hello - I'd be grateful for your advice regarding gains from capital redemption policies/bonds. There are boxes in the "Other UK Income" section in the online Self Assessment return for the amount of the gain from a UK policy on which the tax was treated as paid; and also the number of years the policy has been held. How do you enter the gains and number of years policies have been held, if you have fully surrendered more than one policy in a single tax year ? There doesn't seem to be multiple boxes (gains and number of years held) on the Self Assessment online for this situation - ie cashing in more than one bond/policy. Many thanks.
Posted Wed, 06 Dec 2023 13:08:57 GMT by HMRC Admin 5 Response
Hi 

In cases where there are more than one chargeable event gain, you will need to submit a paper tax return declaring each of the chargeable event gains in the additional information box.  
HMRC will need to manually calculate whether there is any further tax payable.

Thank you

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