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Tax Liability?
Tax Planning and Financial

Baldrick
Baldrick
0 Thanks
1 Posts
9 months ago
0

I am due to complete today on a vacant BT sale.. It is unlikely the sale will go through (not the buyers fault) today.

The contract has a penalty clause which states if the sale does not go through as agreed, the buyer is liable for a penalty charge in the sum of 4% ABOVE bank base rate per day until completion.

Am I liable for tax on this amount?

Thanks.

Meg.

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