BIM42950 | Specific deductions: compensation & damages: contents

Compensation may arise in a variety of circumstances. This chapter describes the tax treatment of payments and receipts for trading income purposes and covers the following:

For other guidance, see:

• BIM62025 - compensation paid for damages caused by mining operations

• BIM40100 onwards and EIM12852 - treatment of compensation or damages in the hands of the recipient

• BIM51425 - compensation payments by brewers to tenants of tied houses