chargeable event gain - overseas policy - help!
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Monsoon
Registered Posts: 4,071 Beyond epic contributor 🧙♂️
Last minute I have one of these land on my desk. Don't you just love it?!
I've established it's the same as a UK life insurance policy which is deemed to have basic rate tax credit, normally entered on the Additional Info page of the Main form.
However it's from the Isle of Man.
The document says "lower rate tax has not been deducted" but then refers to an irrelevant part of ICTA1988.
Can I assume that because it's overseas there's no tax credit and thus it's taxable and belongs on the foreign pages?
Ta!
I've established it's the same as a UK life insurance policy which is deemed to have basic rate tax credit, normally entered on the Additional Info page of the Main form.
However it's from the Isle of Man.
The document says "lower rate tax has not been deducted" but then refers to an irrelevant part of ICTA1988.
Can I assume that because it's overseas there's no tax credit and thus it's taxable and belongs on the foreign pages?
Ta!
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