Overseas Lifetime Income Plan and CGT

I have an estate where the Deceased had held an Athora (previously Aegon) Secure Lifetime Income Plan. The investment is Dublin based and income was stated to be foreign income on the Deceased’s Personal Tax returns.

The Plan was funded with one capital payment 9 years ago. I have received a Chargeable Event Certificate. I am unsure how to deal with this in the Estate Tax Return which is being completed on an informal basis.

Any input would be greatly appreciated.

Kathy Melkerts

Hi Kathy,

I assume the certificate doesn’t show any tax deducted at source? They are generally treated the same as a UK chargeable event but without the benefit of the tax credit. I’ll be happy to crunch some numbers. I usually use our tax software to work out the tax position to report on the informal submission!

Lucy Orrow CTA TEP
Lambert Chapman LLP

Hi Lucy

I am extremely grateful and sending a separate email to you.

The Certificate does not show any deduction at source.