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Hi.I assume you mean "capital gains tax schedule" and not "corporation tax gain schedule". If you have received a CGT report, you may need to act on it. See further on in this answer.If your investment is one with life cover attached and you are able to withdraw up to 5% of the original investment in each policy year, you need do nothing even if gains have been made on the underlying investments. If you withdrew more than 5% in one policy year you may be issued with a chargeable event certificate for that policy year depending on your previous withdrawal history. Such an event may have income tax implications for you which you can read about here.The wrapper is just a convenient way for an investment company to manage a portfolio and illustrate performance to the investor. Take a look at the AXA example here. Whilst it is not meant for retail customer viewing, it shows that gains still need to be reported to the investor even if they are within the CGT exemption as the investor may have made other taxable gains of which the wrapper company is not aware.Take a look under the heading "If you normally complete a Self Assessment tax return" here. Gains need to reported if they exceed the annual CGT exemption of £10,900 for 2013/14 or if the total proceeds of all disposals exceed £43,600 for 2013/14 regardless of the level of the gains or losses.If you look under the heading "If you don't normally complete a tax return" on the same web page, you will see that if you have no CGT to pay (because your total gains are less than the annual exemption of £10,900 for 2013/14) you don't need to report them to the tax office. If you do have CGT to pay, then you need to report the gains to the tax office.I hope this helps but let me know if you have any further questions.
Many thanks - yes had edited to "Capital gain" and not "corporation gain" and your answers covers what I wanted to know, namely have to add the wrap gain to other gains and then tax may be payable even if that wasn't the intent during the year.