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Posted Thu, 19 Dec 2024 14:07:57 GMT by J Fung
Hi, I moved from Hong Kong to UK in June 2021. I bought an 5-year CNY insurance policy with one-off premium payment in February 2019 when I was in living in Hong Kong and it just got matured in February 2024. I therefore need to report the income arised from this insurance policy in the 2023-2024 tax return. My question is that during the 5 year duration of the policy, I was not an UK resident in the first two years (that is, February 2019- February 2021). Should I report the entire income or just a proportion of it in the tax return? Many thanks.
Posted Tue, 07 Jan 2025 11:20:15 GMT by HMRC Admin 19 Response
Hi,
You can see guidance here:
HS321 Gains on foreign life insurance policies (2024)
Thank you.

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