Chargeable event gains: income tax treated as paid
Gains from most policies and contracts with UK insurers are treated as if income tax has already been paid on the gain.
Insurers must report on certificates the tax treated as paid on every gain unless the policy or contract is one of the few types where no tax is ever treated as paid on gains, which are listed in the next section.
For gains arising on or after 6 April 2010, income tax treated as paid is at the basic rate which is 20% for tax year 2010-2011. The income tax treated as paid has been 20% since tax year 2004-05 (it had been 22% in tax year 2003-04).