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Ask Your Own Question, Chartered Certified Accountant
Category: Tax
Satisfied Customers: 5148
Experience:  FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
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Endowment policy in both my husbands and my name matured.

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Endowment policy in both my husband's and my name matured. We received approx £19,000 which we spent on home improvements and a holiday. I am self employed and work from home, my husband is in full time employment. How do I account for this on my self assessment tax return? Thanks Emma.
Hello and welcome to the site. Thank you for your question.

Provided your endowment policy had a term of at least 10 years and it was encashed upon maturity then you don't have to report proceeds from maturity of Endowment policy on your tax return. There is no tax payable.

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