Gains on UK life insurance policies (SA900)

This screen is accessed via the data input tab within the tax return. These boxes are only for gains from life insurance policies, life annuities and capital redemption policies taken out with a UK life insurance company, the UK branch of an overseas insurer or a UK friendly society. All of the required entries should be provided on the certificate from the insurer.

  • Policy and event details‘ Enter a brief description of the event giving rise to the gain. This does not appear on the tax return, it is for memo purposes only.
  • Date of chargeable event‘ Enter the date of the chargeable event giving rise to the gain. Only gains falling in the current tax year should be included.
  • ‘Amount of gain’ Enter the amount of the gain, as given on the event certificate. This relates to a chargeable gain which is taxable as income, this is not a capital gain. UK insurers must by law issue a certificate if a chargeable gain has been made.
  • Tax treated as paid‘ If tax has been treated as paid on the gain, enter the amount. If no tax has been treated as paid, leave this column empty.

Using income losses against capital gains

Firstly, please ensure that you are making the best use of the losses before proceeding. Select the Capital gains tab from the data input screen Click on the Disposals tab, and enter the relevant information Click on the Capital Losses tab, and enter the amount of loss that you wish to set off against the […]

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Restricting access to clients

This feature is only available for multiuser accounts, it has been designed so that you can restrict user access for certain clients if required. Users with “edit client access” rights AND who have access to a client can assign or remove access rights via the Access tab on the client screen. The default is that […]

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User restrictions within Taxfiler

This function is only available for a multiuser license. Some functions within Taxfiler can be restricted from a user. From the SETTINGS icon select Users and select the user that you wish to edit Select Restrictions tab You will be presented with several functions which can be selected or removed via a tick box. For […]

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