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Compensation taxable?

Client has received compensation from the local authority, for a new road which adjoins their property.

Took a long time to pay so have paid interest (tax deducted) as well.

I presume the interest is taxable but the compensation?
Ian Clark

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By ACDWebb
01st Jun 2004 14:14

The compensation is taxable as CGT
but if it is land adjoining the PPR then it should be exempt.

If not then see TCGA s243 et seq

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