We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
We're aware that some users are currently experiencing errors on the Forum. Our tech team is working to resolve the issue. Thanks for your patience.
Chargeable Event Gain re: Tax Credit Calculations
beestw4
Posts: 2 Newbie
Hi
I have just been looking through the tax credits renewal pack and under other income it says the following:
Also include here a 'chargeable event' gain from a life insurance policy for example from the sale of an investment bond. The amount of the gain will be shown on the certificate issued by your insurer.
About 3 months ago we received a lump sum payout on our life insurance after claiming on 'Critical Illness'. This then meant the policy closed. As far as we are aware, we did not have an investment bond type police and had no certificates issued by insurer either mentioning a gain or not
Do we need to delcare the amount we received from the payout in relation to our tax credits renewal?
Any help greatly appreciated.
Thanks
I have just been looking through the tax credits renewal pack and under other income it says the following:
Also include here a 'chargeable event' gain from a life insurance policy for example from the sale of an investment bond. The amount of the gain will be shown on the certificate issued by your insurer.
About 3 months ago we received a lump sum payout on our life insurance after claiming on 'Critical Illness'. This then meant the policy closed. As far as we are aware, we did not have an investment bond type police and had no certificates issued by insurer either mentioning a gain or not
Do we need to delcare the amount we received from the payout in relation to our tax credits renewal?
Any help greatly appreciated.
Thanks
0
Comments
-
It would seem that we have to declare every single gain-if you got a return on taking a bottle back they would probably want to know! Hopefully a CTC expert will be along to advise you.Tomorrow is always fresh, with no mistakes in it!0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.5K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.4K Work, Benefits & Business
- 604.2K Mortgages, Homes & Bills
- 178.5K Life & Family
- 261.7K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards