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 (1)
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