Enter Foreign Life Insurance Gains

1. Open the Foreign Life Insurance Gains section.

2. Do one of the following to add a policy provider:

• Type the name of the provider in Name of policy provider
•  Select from your existing contacts, click  to open the Select Provider window.

3. You need to enter the following information about the policy:

• Policy Number
• Term years - Specify the number of years that the policy has existed.
• Sum assured - This is the value paid out if death occurs during the policy period.
• Date effected - You must enter the date that coverage began.
• Date of maturity - Enter the date that the policy converts to a cash value.
• Annual premiums - Enter the yearly amounts paid to the policy provider.
• Date of final premium - Enter the last payment date.

4. Enter details relating to gains in the Events for policy from Foreign Provider area: 

5. You should complete/tick the following as required:

• Date of event - This is the date when the gain occurred.
• Amount of gain - This is monetary value of the gain. For example, £230.
• Notional tax paid - Select if notional tax paid.
• Final surrender?
• Corresponding deficiency relief

TIP: For each event you can also set the status and add notes.

• Final surrender - Select this option if the insurance policy was terminated before the maturity date.
• Corresponding deficiency relief - Select this option to claim Corresponding deficiency relief.

6. Click Save and Close.