My wife was self employed for 2008 and we are jointly assessed, I'm PAYE.
In 2007 she was let go from a PAYE job and won an unfair dismissal case against her former employer. Her employer had to pay her an amount to make up for loss of earnings. This payment was made to my wife in installments throughout 2008. How should this be treated on the Tax return for 2008? Is it PAYE income or treated as other income on which the full tax liability needs to be paid.
I had planned to make our returns without using an accountant, but will probably seek an accountants advice. Just wondering what people thought about this.
In 2007 she was let go from a PAYE job and won an unfair dismissal case against her former employer. Her employer had to pay her an amount to make up for loss of earnings. This payment was made to my wife in installments throughout 2008. How should this be treated on the Tax return for 2008? Is it PAYE income or treated as other income on which the full tax liability needs to be paid.
I had planned to make our returns without using an accountant, but will probably seek an accountants advice. Just wondering what people thought about this.