Chargeable event

[john2016]

Mr brother passed away last August and I am the executor under his will. His assets are few and of very little value.
However in 1990 he set up a interest in possession trust with my son as one of the beneficiaries. The trust held an investment bond linked to my brothers life and therefore on his death it converted to cash.
A chargeable event certificate has been issued in my brothers name showing (a) amount of gain 28631 (b) amount of tax treated as paid 5727 and (c) number of years 39.
HMRC have already previously issued a summary of his tax position for the current tax year, namely from 06/04/2016 to date of death. It shows that his overall income fell £18 under the personal allowance.
I have now submitted the chargeable event certificate to HMRC.
Am I correct in thinking that under the above circumstances the chargeable event will have no income tax consequences.
Thanks for any one that can help

[pawncob]

I wouldn't think there would be any chargeable amount, but check it here.
http://www.invidion.co.uk/bond/index.php

[AnthonyR]

Only thing to bear in mind is that UK bonds are treated as tax paid for basic rate taxpayers, while offshore bonds are not due to the gross roll up. So if it's an offshore bond then there could be a small tax liability.

[maths]

Brother as creator of the trust is in principle liable on any gain (ie trustees not liable).

Assuming a UK resident trust (many were set up offshore) then brother has no liability to income tax at the 20% basic rate.
Liability only if brother was a higher or additional rate taxpayer which does not seem to be the case.