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Chargeable event gains – income tax calculator
The income tax calculator calculates the income tax payable after available reliefs, for one or more chargeable event gains on a life or redemption policy. It can’t be used where the gain is assessable on trustees, or where a company owns the investment, because life and redemption contracts owned by a company are taxed under the ‘loan relationship’ rules.
Note: If using Internet Explorer please choose to ‘save’ the calculator prior to opening or open using Chrome if you experience problems.
- Amount of the gain(s)
- How many complete years the gain(s) was made over
- Whether the gain was made on an onshore policy or offshore policy
- Whether the individual is entitled to time apportionment relief i.e. they were non-UK resident during their period of ownership
- The individuals other income (salary, rental, pension, savings, dividends etc.)
- Whether the individual made any relief at source pension contributions