IanClark
Blogger
Share this content
0
935

Compensation taxable?

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.

avatar
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

Thanks (0)
Share this content