where to add information on gains from investment bond

JeffMason

Hi All,

I cashed an onshore investment bond last year in order to buy a house. I have the gain amount and the years it was active to calculate the top slicing (which should still keep me firmly in the basic rate tax bracket) and have been told by HMRC on their forum that because the gain was over 10k I need to put it into a self assessment tax return, even though I have no other reason to do so.

I did used to work freelance and still have a self assessment account, so assume it's just a case of putting in my PAYE work and then this gain information also. HMRC say that they work out the top slicing themselves and if no extra owed, it will just be for information purposes.

The question I have is, where do I put this information on the self assessment form online? I can't figure it out at all, and HMRC say that I'll need to call them to find out, that for some reason they can't just tell me via their forum. Anyone know what page or under what heading this information goes? I assume it's just the exact gain and the years active that is needed, so can't be too complicated to do - if I could figure out where to put it!

Thanks,

Jeremy535897

SA100 page TR2 box 9 additional information leads to SA101, first page boxes 4 to 7. See:
https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/975548/sa100-2021.pdf
https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/974830/SA101-2021-Online.pdf

You have to complete the forms to claim the top slicing relief.

JeffMason

Jeremy535897 said:

SA100 page TR2 box 9 additional information leads to SA101, first page boxes 4 to 7. See:
https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/975548/sa100-2021.pdf
https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/974830/SA101-2021-Online.pdf

You have to complete the forms to claim the top slicing relief.

THANK YOU - that's incredibly helpful!

I'd actually already heard about the SA101 form but the HMRC person on their forum made no mention of it, and didn't say I had to complete it, even when I asked and said it was the only thing that made any sense!

Any ideas how to complete that form when doing on online return? There doesn't seem to be an online version...

[Deleted User]

JeffMason said:

Jeremy535897 said:

SA100 page TR2 box 9 additional information leads to SA101, first page boxes 4 to 7. See:
https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/975548/sa100-2021.pdf
https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/974830/SA101-2021-Online.pdf

You have to complete the forms to claim the top slicing relief.

THANK YOU - that's incredibly helpful!

I'd actually already heard about the SA101 form but the HMRC person on their forum made no mention of it, and didn't say I had to complete it, even when I asked and said it was the only thing that made any sense!

Any ideas how to complete that form when doing on online return? There doesn't seem to be an online version...

In the ‘tailor your return’ section answer yes to :

Additional information

Some less common kinds of income and tax reliefs, for example, Married Couple’s Allowance, Life insurance gains, chargeable event gains, Seafarer’s Earnings Deduction

and details of disclosed tax avoidance schemes, should

be returned on the ‘Additional information’ pages. Do you need to fill in the ‘Additional information’ pages?

Yes No

The section will appear as required.

JeffMason

[Deleted User] said:

JeffMason said:

Jeremy535897 said:

SA100 page TR2 box 9 additional information leads to SA101, first page boxes 4 to 7. See:
https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/975548/sa100-2021.pdf
https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/974830/SA101-2021-Online.pdf

You have to complete the forms to claim the top slicing relief.

THANK YOU - that's incredibly helpful!

I'd actually already heard about the SA101 form but the HMRC person on their forum made no mention of it, and didn't say I had to complete it, even when I asked and said it was the only thing that made any sense!

Any ideas how to complete that form when doing on online return? There doesn't seem to be an online version...

In the ‘tailor your return’ section answer yes to :

Additional information

Some less common kinds of income and tax reliefs, for example, Married Couple’s Allowance, Life insurance gains, chargeable event gains, Seafarer’s Earnings Deduction

and details of disclosed tax avoidance schemes, should

be returned on the ‘Additional information’ pages. Do you need to fill in the ‘Additional information’ pages?

Yes No

The section will appear as required.

Ah, so it only appears when you choose yes - got it. Thank you so much!