James Mall

I’m a basic rate tax payer and have made a full surrender of an investment bond giving a chargeable gain of £19,000. This additional income of £19,000 will make me a higher rate tax payer. However the bond has been held for 16 years, so top slice relief is available which makes the tax liability 0 on the bond. As there is no tax liability on the bond do I still need to register for self assessment? The chargeable event was on 06/11/24