When to report chargeable events
Having a momentary mental block.
We've just done a bond surrender for a client whose other income is all PAYE. The whole gain pushes them just over into HRT, but after top slicing relief they are still well within BRT, so no tax to pay. They don't receive any other benefits or allowances that would be affected. Total income is around £59K inc full gain, but only around £49K with top slice (full calc has been done for relief).
Do they still need to make a submission to HMRC, or do nothing as there is no tax to pay?