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Income tax return 2016

April 18, 2017 | 30,00 EUR | answered by

Dear Sir or Madam,

In December 1996, I took out a life insurance policy called "Standard Life Variable Investment Bond". Standard Life is an insurance company in the UK. The term of the policy was twenty years, during which I paid EUR 24 into this bond every month. The policy ended in December 2016.

My question is: is the capital gain/profit taxable when the insurance benefit is paid out (which was done in March 2017)? If so, is it considered income from capital assets/earnings from life insurance? And should it be included in the tax return for 2016 or 2017?

Thank you in advance.

Yours sincerely,