BlueMoon
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Do I need to declare a home insurance payout on my self assessment?
I received a payout in the last tax year from my neighbour's home insurance following a fire which destroyed my fence and shed. The payment received was the exact amount quoted (and paid) to replace what was destroyed. Is this something that needs to be declared? Any help gratefully received! -
Do I need to declare a home insurance payout on my self assessment?
I received a payout from my neighbours' home insurance following a fire started in their garden that destroyed my fence and shed.
The amount received is exactly what it cost to replace what was lost.
I'm hoping it's not something that needs to be declared but wanted to check to be sure!