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Standard Life return of value payment

  • 20-10-2016 4:51pm
    #1
    Carnmore
    Registered Users, Registered Users 2 Posts: 407 ✭✭


    How should I input a Standard Life return of life payment on Form 11 tax return?

    Thanks in advance


Comments

  • #2
    Lockedout2
    Registered Users, Registered Users 2 Posts: 402 ✭✭Lockedout2


    Yes

    It's either subject to income tax or CGT.


  • #3
    Carnmore
    Registered Users, Registered Users 2 Posts: 407 ✭✭Carnmore


    Lockedout2 wrote: »
    Yes

    It's either subject to income tax or CGT.

    Which is it?


  • #4
    Lockedout2
    Registered Users, Registered Users 2 Posts: 402 ✭✭Lockedout2


    Did you get dividends or proceeds of share sale?

    If you did not elect to have it treated as Capital it's dividends.


  • #5
    Carnmore
    Registered Users, Registered Users 2 Posts: 407 ✭✭Carnmore


    Lockedout2 wrote: »
    Did you get dividends or proceeds of share sale?

    If you did not elect to have it treated as Capital it's dividends.

    There was no option other than to receive a payment in the form of a cheque


  • #6
    Lockedout2
    Registered Users, Registered Users 2 Posts: 402 ✭✭Lockedout2


    Apologies misread you original post as "return of capital"

    You will have to give a little more detail but usually these types of policies are taxed within the fund does the documentation give any detail.


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  • #7
    nompere
    Registered Users, Registered Users 2 Posts: 1,678 ✭✭✭nompere


    Carnmore wrote: »
    There was no option other than to receive a payment in the form of a cheque

    The answers are all here.

    http://www.revenue.ie/en/tax/cgt/standard-life-shareholders.html

    If you didn't elect to take a capital payment, liable to capital gains tax, by signing and returning a form to Standard Life, then you were deemed to take a payment by way of dividend that is liable to income tax. Either way I think they sent out cheques.


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