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By SXGuy
28th Dec 2019 17:05

I would imagine that they would have stipulated the kind of payout it was. Like a dividend etc when your client was notified of the payout being due.

I'm no expert in this field but I'd hazard a guess and say it may be treated as a capital gain if the above is absent.

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By learose
28th Dec 2019 17:40

.

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By Accountant A
28th Dec 2019 18:10

It's the absolute height of ignorance to delete questions.

I hope people remember that next time you want help.

Unusual Income - how to treat on tax return

Hi All

I wondered if i could ask your advice, i have a client that is retired and gets a small pension.

He is a member of a golf club, this golf club is owned by a third party and is leased to the golf club. They now want to develop part of the golf club however there was some stipulation that all members had to agree for it to go ahead and to do so they offered a substational payout to all members based on how many years they had been there.

He has received a payout +£80k and i am stuck as to what type of income this would be in terms of the tax return?

Any help would be most appreicated.

Kind Regards

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Replying to Accountant A:
RLI
By lionofludesch
28th Dec 2019 18:16

I can add that the payout was made under Part 26, Companies Act 2006.

Which relates to assorted reorganisations.

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RLI
By lionofludesch
28th Dec 2019 18:18

"He is a member of a golf club, this golf club is owned by a third party and is leased to the golf club."

I particularly liked this sentence, by the way.

No doubt the member has some golf clubs in a bag too.

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By penelope pitstop
28th Dec 2019 18:42

Hoi! Learose.

We know who you are and we're coming to get you, ha ha, ho ho, hee hee!

And we know there is just the one single golf club in this country which presently fits your description (development etc.)

And we also know there is only one single member of that golf club who is of that particular age to merit that particular payout.

So, you have been unmasked, and so has your client! You dastardly would-be anonymous accountant.

So, if anyone wants to know the true name of Learose and their client please send me an anonymous email and I will fill you in.

Learose! Be afeared. Be very afeared!

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By JDBENJAMIN
28th Dec 2019 23:36

That's a point. Full stop.

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By JDBENJAMIN
29th Dec 2019 11:01

Deleters should be deleted from this forum.

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By lesley.barnes
29th Dec 2019 11:10

I must have missed something in this post I can't see why this question was deleted I took it as a genuine question. Can anyone enlighten me?

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Replying to lesley.barnes:
RLI
By lionofludesch
29th Dec 2019 11:47

No idea.

It wasn't a question that I would've been embarrassed to ask.

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Replying to lesley.barnes:
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By Accountant A
29th Dec 2019 14:03

lesley.barnes wrote:

I must have missed something in this post I can't see why this question was deleted I took it as a genuine question. Can anyone enlighten me?

I would be slightly less irritated by this if some apology and explanation had been offered.

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Replying to lesley.barnes:
ALISK
By atleastisoundknowledgable...
29th Dec 2019 18:29

lesley.barnes wrote:

I must have missed something in this post I can't see why this question was deleted I took it as a genuine question. Can anyone enlighten me?

Maybe the OP was worrying about Penelope having de-masked them and their client and wanted to remove any evidence of what they’d said. How little they knew about certain AWebers’ ability to reproduce deleted text!!

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Replying to atleastisoundknowledgable...:
My photo
By Matrix
29th Dec 2019 18:52

If you read Penny’s post, it was after Lea Rose removed her question and post or wouldn’t make any sense.

At least it saves John S having to login again this weekend to castigate the regular contributors for replying to posts, which I thought was the purpose of this forum.

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Replying to Matrix:
By penelope pitstop
30th Dec 2019 03:00

Exactly.
Learose did NOT remove their question AFTER my post but before it.
I am closing in on Learose. It is now only a question of time.

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Replying to penelope pitstop:
Red Leader
By Red Leader
30th Dec 2019 13:41

Even I'm getting scared now! I won't get any sleep tonight.

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Replying to Matrix:
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By Accountant A
30th Dec 2019 16:06

Matrix wrote:

At least it saves John S having to login again this weekend to castigate the regular contributors for replying to posts, which I thought was the purpose of this forum.

It's bizarre that he chooses to intervene on that rather than the 90% of questioners who are clearly not accountants.

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By Tax Dragon
30th Dec 2019 09:37

I agree with the others. It's a shame to delete a question that raises an issue that is hardly unique to your client and that therefore could have been helpful to others if you'd let it be.

By deleting the question, you have left it unanswered(*) and this thread is consequently of no use to anybody - including you. If you found out the answer, you could have chosen to post it, rather than doing what you did. That would have been helpful - and the real reason (IMO) that you should be evicted from this forum is that you have no interest in helping others, only in being helped.

(*) SXGuy didn't answer - he (in his own words) hazarded a guess. And, though I would have been happy to give the answer, the deletion has changed that.

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Maddy Christopher
By Maddy Christopher
03rd Jan 2020 08:39

Hi all,

Since the poster has decided to delete their content, there is little point in keeping this thread open.

I would like to remind the poster that it is not good practice to be creating content and then removing it after people have taken the time to respond to their query. Please refrain from this in the future.

Apologies for the inconvenience to all the commenters.

Sincerely,

Maddy from AWEB

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