Damages which had been recovered in the Lloyd’s litigation for negligent underwriting were subject to income tax as trading income.
Citations:
Gazette 08-Nov-1995, Times 19-Oct-1995, Independent 18-Oct-1995
Statutes:
Income and Corporation Taxes Act 1988 Sch D
Jurisdiction:
England and Wales
Income Tax
Updated: 20 December 2022; Ref: scu.79878