2006-09-26 01:42:04 · 8 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United Kingdom
no
when i had compensation for a accident
i never had to pay any tax and that was only 6 weeks ago
2006-09-26 01:52:53 · answer #1 · answered by kitthekat 2 · 1⤊ 0⤋
Maybe not income tax. But with a Labour government, something could easily be thought up with a fancy name in a flash to get your money off you.
2006-09-26 09:02:04 · answer #2 · answered by Lucan 2 · 0⤊ 0⤋
No you don't but if it is a large sum you will need to declare interest on savings & investments as your taxable income may fall into the higher rate bracket and divs and savings aren't automatically taxed at 40%.
If its a small sum no worries.
2006-09-26 18:52:52 · answer #3 · answered by Squeak 3 · 0⤊ 0⤋
No - if you receive compensation for personal injury its currently exempt from tax
2006-09-27 13:49:46 · answer #4 · answered by Flick W 2 · 0⤊ 0⤋
No its not an income you dont pay tax on court awards ethier and this is essentially what it is
2006-09-26 08:50:55 · answer #5 · answered by happysurferuk 2 · 0⤊ 0⤋
No it is not liable for income tax
2006-09-26 09:00:57 · answer #6 · answered by swoodleybird 3 · 0⤊ 0⤋
NO. It's exempt.
2006-09-26 08:44:09 · answer #7 · answered by 'Dr Greene' 7 · 0⤊ 0⤋
no
2006-09-26 08:49:04 · answer #8 · answered by Nimbus 5 · 0⤊ 0⤋