Blogger
Share this content
0
1
909

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

Replies

Please login or register to join the discussion.

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

Thanks (0)