Is Personal Injury Compensation Taxable?
Payments made on personal injury claims are not taxable, regardless of how this payment is received – lump sum or through periodic payments. Further, any interest paid as part of the damages is tax free but interest paid as result of late payment of the award is taxable.
Tags: Accountants Balham, Accountants Fulham, Accountants Mitcham, Accountants Putney, Accountants Tooting, Accountants Wandsworth, Accountants Wimbledon, compensation, Personal Injury, tax
Follow us