Question

Should I put items I already paid tax in UK on tax return, and if I do. where do I put them- 2 are life insurance that matured and one is a UK occupational pension?

Forum|Forum|2 years ago
October 16, 2023
2 replies
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1) Endowment life insurance plan matured and UK statement says I do not need to put on tax return -No chargable gain.
2) Life insurance has matured, tax paid in UK.
3) Occupational pension plan payed out and tax payed in UK.
where do I put them if I need to put on US tax return?
I have paper statements for all three.

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Employee

@damenora , having read through your post of income streams from UK and UK tax situation thereon , I still need your own immigration status ( US citizen/ GreenCard/ Resident for tax purposes and your age , if the pension/ life insurance is in your own name or based on somebody else ( inherited ), is this for tax year 2022 or 2023 ?

I will circle back once I hear from you -- in the meantime , I will refresh my memory on US-UK tax treaty

D

damenoraAuthor

Hello PK

I am a permanent resident, and everything is in my name. It is a UK Government pension and a life insurance for me that matures on a specific date and pays out. The other is an endowment policy with life insurance that also pays out at a specific date (matures). I am 66. The Uk withhold taxes when they pay out. The pension has a lump sum that is tax free in UK. I think I do need to declare them, and I dread paying more taxes!

D

damenoraAuthor

PS

I have claimed the USUK tax treaty on my taxes (with help) but when I read the Form 8833 that I must submit with it, I don't meet the definition of dual resident. I am a permanent resident and no longer resident in UK. How can I be resident in both, its not possible? So I think i need to remove that which means going over whole form befor submit it.