BillyApple
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RE: Taxation on Life Insurance Surrender
Hi My wife and I have just surrendered a UK life insurance policy. We are told this is 'Non-Qualifying'. We have been sent a Chargeable Event Certificate. We are tax resident in New Zealand. Is this a matter for us to declare to the Inland Revenue in NZ (we declare overseas income including gains made on the now closed policy every year), do we need to contact HMRC (if so, how), or will HRMC contact us? Thanks for any advice. Just trying to do the right thing.
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