Hi,
This my sound bizarre but just want to make sure as I have been told that I may have to account for CGT on insurance claim.
In short was victim of burst pipes last winter and some household goods destroyed and will be compensated under my household insurance policy. Can't seem to find any concrete answers on Revenue site.
My question is do I have to account for the funds received in terms of insurance payout for household goods (nothing really valuable) and file a CGT50 form with Revenue even though there will be no gain?
Thanks
This my sound bizarre but just want to make sure as I have been told that I may have to account for CGT on insurance claim.
In short was victim of burst pipes last winter and some household goods destroyed and will be compensated under my household insurance policy. Can't seem to find any concrete answers on Revenue site.
My question is do I have to account for the funds received in terms of insurance payout for household goods (nothing really valuable) and file a CGT50 form with Revenue even though there will be no gain?
Thanks