jacowan92

Hello, I'm registering for self-assessment taxing for the first time as I have recently had a chargeable event certificate due to a Life Insurance Policy being cashed out to me. Having spoken to an advisor over the phone, I know I need to register based on the amounts received, however I am not sure what response I will need to select for "Why do you need to complete a tax return?" - I am a company director (company directors with income taxed at source and no further tax to pay do not need to complete a tax return) - Not applicable - I'm getting income from land and property in UK - Not applicable - I'm getting taxable foreign income of £300 or more - Not applicable - I receive annual income from a trust or settlement - Not applicable - My annual income will exceed £100,000 - Not applicable to my income circumstances - I've untaxed income which cannot be coded in PAYE - Potentially applicable? - I am due to pay High Income Child Benefit Charge as my income for Child Benefit purposes is over £50,000 and my partner or I get Child Benefit payments - Not applicable - I have Capital Gains to pay - Potentially applicable? - Any other reason? - Should I put Life Insurance Gain here? Or should I select another option, and use this free text to describe my circumstance? Many thanks for any help! -