Davidjl

Hi I invested £150k in a bond 10 yrs ago and made no withdrawals during this time. This year March 2024 I had to withdraw £95k out. I received a chargeable event certificate from the company in March 24, which I forwarded to HMRC. During Dec 24 I received a letter from HMRC informing me that my chargeable event income gain was above £10000, I would now be required to complete a self assessment tax form. My question is what do I have to pay tax on:- 1) Amount of gain arising from this event is £32k 2) Notional tax is £6.5k I am a 20% tax payer with state pension and private pension well below the 40% tax bracket. Is it 20% of the £6.5K and how do I include this on the SAT form as Ive never filled in one before Regards