I redeemed my life insurance policy and got a lump sum of money but the sum is less than what I had contributed over the years.
It means a loss.
Then, do I need to report in my self-assessment return?
If I need to report, how should I report that?
Can I deduct the loss from my overall income?
I found the document 'How to fill in your tax return (2022)' stated that:
"Do not include any interest from Individual Savings Account".
But it then has the following paragraph:
Include in box 1 or 2 any interest from:
bank and building society savings, including internet accounts'
So, should I report in SA100 the interest earned from savings account and fixed term deposit account?