KF@2023

I have similar questions about overseas insurance & saving plan and woud like to know more to help out filling in my tax return. I started an endowment saving-insurance plan in 2002. I paid premium for 15 years (ie from 2002-16) and the plan matured in 2017. From 2017, I started to receiving montly instalment payment of 1% of the Maturity Benefit for 10 consecutive years (ie payout will stop in 2027). In this case, do I have to report my “montly payout” in the tax return? If so, as dividend or interest income? More, I would be grateful if could let me know whether I am entitled to apply for any exemption on “premium paid”? Your information and advice are highly appreciated. Thanks in-advance for your kind help. Cheers

I came from HK and resided in UK for 1 year. This is my first year to report tax duty to HMRC. Pls kindly advise on the following: (1) I have a matured annuity plan issued by a HK banking institution which payouts monthly to my Hong Kong account. Can I apply for a tax exemption using PLA6 Form (for the capital in put in) ? If needed, which part of the form and section should I fill in my tax return form in the first place and claim a refund (if applicable). How would HMRC treat it , as income or as dividend? (2) I have a life insurance policy (life and critical illness insurance) issued by a HK company, and I am still making contributions each year. The cash value and interest income are reported in the annual report, but I never withdraw any income/interest. (Money is on roll -over basis with the insurance until I died). Do I need to report this “so called un-realized income”in my tax return? If applicable, where to fill in? (3) My husband also has an annuity plan and is still paying his premium. Like (2) he does not intend to withdraw any value, should he report any those unrealized earned interest? Look forward to hearing your replies. Thanks for your kind attention. Thanks for your kind help and guidance. Cheers