cityjoe Lam

Do I need to keep any document to prove the income has no gain arised? Will I be queried by HMRC at some point later to provide any proof?

I have an insurance policy to pay monthly premium for 10 years in Hong Kong. This is for cover a daily fix daily amount reimbursement if I need to stay in a hospital in patient. When the policy mature, I can take back 83.34% of my total premium contribution. There is no gain arisen but a 16.66% spent actually. My question is when the policy matured and I received the one off money to my Hong Kong bank account, do I need to claim to my UK tax account somehow, e.g. Self Assessment?