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Where Taxpayers and Advisers Meet

UK tax on German endowment life insurance?

FSchubert
Posts:1
Joined:Thu Apr 05, 2018 10:29 am
UK tax on German endowment life insurance?

Postby FSchubert » Thu Apr 05, 2018 10:32 am

I have an old German endowment life insurance which is maturing soon. Under German law this is tax-free, but will it be liable to UK tax since I am resident in the UK?

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

Re: UK tax on German endowment life insurance?

Postby maths » Thu Apr 05, 2018 1:45 pm

I suspect that as the policy was issued by a foreign (i.e. non-UK) insurer it will not fall to be treated for UK tax purposes as a qualifying policy and hence taxable on maturity.

This is a specialist area and advice from a specialist or HMRC may be needed.


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