Chargeable Event Certificate- OCR

Chargeable Event Certificate- OCR

Didn't find your answer?

Hi all

We have a client who has received 5 such certificates in 2010/11. Three of the certificates show 'tax treated as paid' at the rate of 20% but on the other two no such amount has been mentioned. It appears that the gross amount of the gain should go into box 16 of page 3 of the tax return (Other UK Income not included on supplementary pages) and the tax should go into box 18. Is this the correct treatment? What should we do to those certificates where no amount has been deducted?

The client is in a tax refund position and if are to include the gain and the tax treated as paid, his tax refund increases. Isn't this tax notional credit only? If so how do we disclose the same? Any help would be quite appreciated.

Regards.

Replies (3)

Please login or register to join the discussion.

avatar
By taxhound
04th Oct 2011 19:46

Page Ai1

Chargeable events on UK life insurance policy gains go in boxes 4-11 on page Ai1.

Thanks (1)
avatar
By ste99
05th Oct 2011 12:17
Thanks (1)
avatar
By PaulFSZ
05th Oct 2011 14:04

Thanks

Many thanks for your comments, Tax Hound, Ste99.

Thanks (0)