Is Newspaper Court settlement -taxable income?

Posted by Countinformation PM | on Fri, 22/02/2013 - 03:48 506 8 comments | report

I have a client that is very close to some celebraties. A very well known newspaper published things they shouldn't have and the client took them to court. I am not sure if the newspaper settled out of court or if he won the case, but he received an amount for damages. Is this taxable income that should be reported on the tax return?

Count

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It depends on the facts

Steve Kesby | Fri, 22/02/2013 - 10:46

There's no business

pawncob | Fri, 22/02/2013 - 12:43

I thought that in the Oakley

bernard michael | Fri, 22/02/2013 - 15:39

I agree Bernard

Steve Kesby | Fri, 22/02/2013 - 16:08

@Bernard

Steve Kesby | Mon, 25/02/2013 - 16:05

Thanks for the info !

Countinformation | Wed, 27/02/2013 - 09:01

If its damages (ie Capital receipt)

Countinformation | Wed, 27/02/2013 - 09:08

Only for personal injury

Steve Kesby | Wed, 27/02/2013 - 18:24