Report chargeable event gains for life insurance policies — guidance for insurers
How to report chargeable event gains on life insurance policies, including details on the annual qualifying policy if you're an insurer.
The 2 formats for reporting are:
- electronic flat text file specification (previously called magnetic media specifications) — for UK insurers only
- HMRC chargeable events spreadsheet
If you’re an individual and need to report your chargeable event gain, do not use this guidance. Instead, use helpsheets for:
Electronic Flatflat Texttext Filefile specification
ThereYou aremust meet technical specifications that must be met when reporting gains as a text file.file.
This creates a flat text filefile, (CSV files are not acceptable), which you can besubmit submitted by either:
- the Secure Data Exchange Service
(SDES) - email
to:to tpi.a@hmrc.gov.uk
CSV files are not accepted.
HMRC chargeable events spreadsheet
You can submit your return of information using one the following HMRC spreadsheet templates to report events for single and multiple policyholders.
The spreadsheets containuse conditional formatting whichto detectsdetect if certain specification requirements haveare not been met.
To highlightThe detected errors the cells onin rows 1 and 2 forof the columns containingwith errors will turn redred. and remain so until the errors have been corrected.
Do not submit a spreadsheet with a red highlighted cell in rows 1 or 2. You must correct thethese errors before submittingyou submit your return to HMRC.
The spreadsheet validations cannot entirelyfully check the accuracy or suitability of the datadata. andThe the return may still fail when processedHMRC byprocesses HMRC. Thereforeit. youMake must make sure your return of information meets the required specifications.