tax on damages

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tax on damages

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JonathanCollins JonathanCollins is offline

Business Planning

Join Date: May 2009

Posts: 1

tax on damages
21-05-2009, 06:44 AM

I am suing a business partner for breach of a joint business venture agreement. I am seeking damages for future loss of earnings. If damages are awarded will the sum attract income tax or CGT and if so how will the tax be calculated?

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