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Where Taxpayers and Advisers Meet

Life insurance

samrosh
Posts:3
Joined:Sat May 26, 2018 7:56 am
Life insurance

Postby samrosh » Sat May 26, 2018 8:02 am

My mother in India opened a life insurance policy on my name there before I came to UK. The premiums have been paid by her. When the insurance policy matures will there be any tax implications for me here. I am UK resident and naturalised citizen.

bd6759
Posts:4262
Joined:Sat Feb 01, 2014 3:26 pm

Re: Life insurance

Postby bd6759 » Sat May 26, 2018 3:00 pm

Yes

maths
Posts:8507
Joined:Wed Aug 06, 2008 3:25 pm

Re: Life insurance

Postby maths » Sun May 27, 2018 12:09 pm

I'm unclear as to who is the policy holder and who is the insured?

If you mother is the policyholder no UK tax applies on maturity of the policy.

samrosh
Posts:3
Joined:Sat May 26, 2018 7:56 am

Re: Life insurance

Postby samrosh » Sun May 27, 2018 7:49 pm

I am insured but policy held by mom

bd6759
Posts:4262
Joined:Sat Feb 01, 2014 3:26 pm

Re: Life insurance

Postby bd6759 » Sun May 27, 2018 11:22 pm

If you mother is the policyholder no UK tax applies on maturity of the policy.
I misread the question. I agree.


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