• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
Free ACCA & CIMA online courses from OpenTuition

Free ACCA & CIMA online courses from OpenTuition

Free Notes, Lectures, Tests and Forums for ACCA and CIMA exams

  • ACCA
  • CIMA
  • FIA
  • OBU
  • Books
  • Forums
  • Search
  • Register
  • Login
  • ACCA Forums
  • Ask ACCA Tutor
  • CIMA Forums
  • Ask CIMA Tutor
  • FIA
  • OBU
  • Buy/Sell Books
  • All Forums
  • Latest Topics

New! Lectures for ACCA AAA September 2022 Exams are now available >>

New! BPP Books for ACCA September 2022 Exams are now available, get your discount code >>

Insurance Proceeds

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › Insurance Proceeds

  • This topic has 1 reply, 2 voices, and was last updated 11 months ago by Tax Tutor.
Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • July 9, 2021 at 11:35 am #627274
    KatrinaKP
    • Topics: 1
    • Replies: 0
    • ☆

    Hi,

    I came across a practice in the workbook but am unsure of the treatment. Can you provide some further info. The question is based on the below:

    An individual received health insurance proceeds of £50,000 and is not an employee of an company nor self-employed and did not receive health insurance as a benefit. Do they need to declare the proceeds as Capital Gains tax or income tax or both? Would it be classified as savings income next year and each year after (if it is income tax)? Or are health insurance proceeds exempt from tax?

    July 10, 2021 at 6:17 pm #627385
    Tax Tutor
    • Topics: 2
    • Replies: 3929
    • ☆☆☆☆☆

    A question in the workbook will have an answer – if you have a question about that answer then let me know with full details of the question and the part of the answer that you do not understand – the term “health insurance proceeds” must surely be explained in the question but must not be confused with insurance proceeds received on the loss or destruction of an asset.

  • Author
    Posts
Viewing 2 posts - 1 through 2 (of 2 total)
  • You must be logged in to reply to this topic.
Log In

Primary Sidebar

Donate

If you have benefited from OpenTuition please donate.

Specially for OpenTuition students

20% off BPP Books

Get BPP Discount Code

Latest comments

  • praveenmasih on PPE – revaluation upwards – ACCA Financial Reporting (FR)
  • Ken Garrett on The nature and structure of organisations – ACCA Paper BT
  • Ken Garrett on The nature and structure of organisations – ACCA Paper BT
  • nojwwnolife on The nature and structure of organisations – ACCA Paper BT
  • John Moffat on Discounted Cash Flow Further Aspects, Lease versus Buy – ACCA Financial Management (FM)

Copyright © 2022 · Support · Contact · Advertising · OpenLicense · About · Sitemap · Comments · Log in


We use cookies to show you relevant advertising, find out more: Privacy Policy · Cookie Policy