Vincent

Hi HMRC, I have US Treasury Bills holding in my UK based broker account (Interactive Brokers UK), and I receive bond interest (coupon payment) in USD twice a year. Upon reviewing the related threads in the forum, could you please help to confirm if my understandings below are correct? 1) Report the bond interest received as foreign income and fill in SA106 form accordingly, making use of the approved exchange rate for GBP/USD. 2) Upon bond maturity, report the difference between what I paid for the bond and what I redeem it in box 3 of SA101 form (page Ai1), making use of the approved exchange rate for GBP/USD. Thank you.

Hi HMRC, Thank you for your reply. I just want to clarify a bit upon further checking on the policy details. My wife's dad, a non-UK tax resident, is the policy owner of the life insurance who passed away recently. My wife, a UK tax resident, is one of the beneficiaries of the life insurance policy and get a payout upon her father's death. The policy is finished by then, and my wife has not acquired anything except the payout. Does she need to declare for the payout in the self assessment? Thank you.

Hi HMRC, I would like to ask on behalf of my wife. My wife is UK tax resident and her dad who lives in Hong Kong and is a non-UK resident passed away recently. My wife is the sole beneficiary of the life insurance bought by her dad in Hong Kong. When she get the death benefit from the policy, does she need to declare in the self assessment and is she liable to any tax? Thank you.