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Insurance payout

Answer
PY Leung
Posted Fri, 13 Sep 2024 12:34:44 GMT by PY Leung
I have an insurance mature in January 2023 but I only have the cheque deposited in the bank in late April 2023. Should I recorded any gain in year 2022-2023 or 2023-2024?
Answer
HMRC Admin 19 Response
Posted Mon, 23 Sep 2024 09:27:30 GMT by HMRC Admin 19 Response
Hi,
As the policy matured in the 2022 to 2023 tax year, you would declare the chargeable event gain in the 2022 to 2023 tax year.
Thank you.

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