FTTTx INCOME TAX – termination of employment – compromise agreement signed after termination and payment of andpound;200,000 made – appellant’s case that payment made to compensate for discrimination causing injury to feelings, to protect the employer’s reputation and other reasons – whether taxable under ITEPA section 401 – cases of Walker v Adams, Oti-Obihara and Orthet v Vince-Cain considered – held, payment taxable in full subject to andpound;30,000 exemption – available exemption reduced because of redundancy payment in previous year – whether taxable income reduced by a further andpound;30,000 ‘concession’ given by HMRC – held, no.
[2014] UKFTT 834 (TC)
Bailii
England and Wales
Income Tax
Updated: 20 December 2021; Ref: scu.536203