Joshua Carey and Marianne Tutin (Devereux Chambers) discuss a recent tribunal decision that highlights why the tax treatment of sums paid under any settlement agreements must be considered carefully.
Hot on the heels of Mathur v HMRC [2022] UKFTT 88 (TC) the First-tier Tribunal (FTT) has again been required to analyse the proper approach to taxing termination payments which arise in the course and settlement of Employment Tribunal (ET) proceedings.
The taxation of settlement agreements can be a thorny issue: tensions are already running high for taxpayers who have made complaints against their former employer which may be compounded by receiving a large tax bill from HMRC. This is what happened in Mrs A v HMRC [2022] UKFTT 421 (TC) (Mrs A) which operates as a stark reminder about the importance of taking specialist tax advice about the specific terms of a draft settlement agreement ...
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Joshua Carey and Marianne Tutin (Devereux Chambers) discuss a recent tribunal decision that highlights why the tax treatment of sums paid under any settlement agreements must be considered carefully.
Hot on the heels of Mathur v HMRC [2022] UKFTT 88 (TC) the First-tier Tribunal (FTT) has again been required to analyse the proper approach to taxing termination payments which arise in the course and settlement of Employment Tribunal (ET) proceedings.
The taxation of settlement agreements can be a thorny issue: tensions are already running high for taxpayers who have made complaints against their former employer which may be compounded by receiving a large tax bill from HMRC. This is what happened in Mrs A v HMRC [2022] UKFTT 421 (TC) (Mrs A) which operates as a stark reminder about the importance of taking specialist tax advice about the specific terms of a draft settlement agreement ...
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If you do not subscribe but are a registered user, please enter your details in the following boxes:
