one of my clients got compensation for a crane being erected in / next to his property as he had to move out , this was paid to the freehold management company who then paid it out to the leaseholder for rehousing costs , am struggling with the taxation implications . my view is that the excess of the compensation over the rehousing costs is subject to corporation tax (the putative crane licence was never signed by the licencee)
any ideas ?
Replies (3)
Please login or register to join the discussion.
Eh?
Who is who?
Is your client the leaseholder? and is that person a company? Does this relate to leasehold business premises?
Or is the leaseholder an individual? with the "freehold management company" being your client, who you think may have to pay corporation tax?
It really is as clear as a bucket of mud.