Insurance premium refund

We received a pro rata refund of an insurance premium as the property had been sold. Should this be declared in self assessment, and if so, should it be as income or negative expenditure?

Hi ,
 

Thanks for your question. If you have received a refund of an insurance premium due to sale of the property, I would suggest that in terms of allowable costs you would only declare the amount of the premium attributable to the rental business (i.e. 6/12 months), as the refund would in itself act as a form of relief for the period between sale and the end of the tax year. Thanks