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UK Endowment Policy Matures and Withholding tax

UK Endowment Policy Matures and Withholding tax

Old Apr 19th 2018, 5:07 pm
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Neillc37 is an unknown quantity at this point
Default UK Endowment Policy Matures and Withholding tax

I asked about this some time ago:


Some said there was no withholding tax.
This was a policy that had payments made to it for less than ten years so I think they refer to this as non-qualifying.
Tax was withheld in the UK. It appears to be 20%.
Now I am thinking I likely have to file R43 next year to claim personal exemption. I can't claim a tax credit in the US on tax I didn't have to pay. I am guessing I don't have to pay all of this 20%. Seem reasonable?
Gain was 10766 GBP. Our only income in the UK I expect for this tax year.
So one less entry to chase each year for 8938 and FinCen 114!!!!!
I still need to work out how to get a tax credit into drake for a 1099-R entry but I have a year to play with that.
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