Cledwyn Davies

I have recently surrendered a Whole Life Insurance (Unit Linked Plan) Policy to receive a capital redemption sum. I am the Policy Holder and Beneficiary, having held the policy under its original terms, without amendment, for 41 years, paying monthly premiums throughout the period. My insurer has informed me that there is no need for a Chargeable Event Certificate to be issued as this was a Qualifying Policy and as such " the qualifying status relates to the potential income tax liability payable in respect of a chargeable event. As this was a qualifying policy, no income would be due". As part of the redemption the insurer has provided me with a statement of the total premium sum paid into the policy and the surrender value. I have two questions, i) Am I correct in my understanding that the capital sum I have received is not income and is consequently not liable for income tax and therefore does not require to be included in my Self-Assessment return ? (ii) If there is liability, as a higher rate tax payer does this make any difference ?