Do You Pay Tax On Compensation Payments? | A Complete Guide
Hey there, UK taxpayers and business folks! If you’ve ever received a compensation payment—whether it’s from a car accident, a dodgy employer, or even a mis-sold financial product—you’ve probably wondered, “Do I need to pay tax on this?”you’re not alone. It’s a question that pops up all the time, and the answer isn’t always a simple yes or no