In AB v HMRC (TC01527 – 22 November) an accountant became a partner in a large firm of accountants. Following a period of ill-health she retired from the partnership in November 2007. She received a payment of £191 532. She accepted that £63 333 of this was taxable but considered that the balance of £128 199 represented non-taxable compensation. In July 2008 she became a partner in a smaller firm. However her relations with a senior partner were unsatisfactory and in February 2009 she was asked to leave. She subsequently received payment of £205 250. She accepted that £102 500 of this was taxable but considered that the balance of £102 750 represented non-taxable compensation. HMRC issued amendments to her returns charging tax on the payments of £128 199 and £102 750 which she had...
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In AB v HMRC (TC01527 – 22 November) an accountant became a partner in a large firm of accountants. Following a period of ill-health she retired from the partnership in November 2007. She received a payment of £191 532. She accepted that £63 333 of this was taxable but considered that the balance of £128 199 represented non-taxable compensation. In July 2008 she became a partner in a smaller firm. However her relations with a senior partner were unsatisfactory and in February 2009 she was asked to leave. She subsequently received payment of £205 250. She accepted that £102 500 of this was taxable but considered that the balance of £102 750 represented non-taxable compensation. HMRC issued amendments to her returns charging tax on the payments of £128 199 and £102 750 which she had...
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