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Posted Fri, 21 Jul 2023 12:31:34 GMT by Tracey Johnson
Mum received a chargeable event certificate from cash some of her bond she received £23,867.52 . The certificate states gain arising £11,067.00 Notional tax £2214.00 What will be the income tax as we need to know this for probate?
Posted Mon, 31 Jul 2023 10:13:43 GMT by HMRC Admin 19

We are unable to advise if further tax is payable on the gains.  

As the gain is over £10000, you will  need to submit a tax return for the tax year to date of death of your mother. Only then will be able to advise if more tax is payable on the chargeable event gain. You can see a helpsheet for gains on UK life insurance policies here:

HS320 Gains on UK life insurance policies (2023)

Thank you.

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