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Tax on Settlements

dlambirl · 2008-11-11 10:58:13

Hi all Can anyone tell me here if there is tax/anything to be paid (to the government) on a court settlement or an out of court settlement? and if so, what rate? Thanks a million

11-11-2008 11:58am

#1

dlambirl

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Hi all

Can anyone tell me here if there is tax/anything to be paid (to the government) on a court settlement or an out of court settlement? and if so, what rate?

Thanks a million

0

Comments

#2 11-11-2008 6:20pm

pigeonbutler

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Depends on a lot of things I think. Certain settlements are exempt. You'd have to determine whether it's capital or income as well would be my guess. Care to offer any further details?

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#3 12-11-2008 11:06am

dlambirl

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right - house that was meant to go to someone. solicitor made a f**k up and now its going to someone else. Taking solicitor to court for the price of the house. If there was a settlement (in or out of court) what would the tax be or would it be exempt (please god exempt!!!)

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