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Posted Mon, 11 Apr 2022 18:06:41 GMT by Ian O
In my self assessment tax filing, am I supposed to include damages (and interest thereon) awarded by the courts pursuant to a dispute which qualify for tax exempt treatment (per Extra Statutory Concession, D33) as there was no underlying asset and the value of damages (including interest thereon) is less than the prescribed exemption limit to £500,000 (per the HMRC’s amendment to the D33 in January 2014)? If I am supposed to include it in my tax filing, which section of the tax forms do I use to report the damages (and interest thereon) and tax exemption treatment? Regards
Posted Wed, 13 Apr 2022 08:15:32 GMT by HMRC Admin 20
Hi Ian O,

To enable HMRC to establish whether Extra Statutory Concession D33 is applicable in your particular case, please write to HMRC with full details of the circumstances surrounding  the award of damages, together with copies of any relevant documentation.          

Income Tax: general enquiries

Thank you.

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