How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Your Own Question, Chartered Certified Accountant
Category: Tax
Satisfied Customers: 5112
Experience:  FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
Type Your Tax Question Here... is online now

I have received a bonus related to the sale price of a company.

Customer Question

I have received a bonus related to the sale price of a company. i.e the company was sold and my bonus was based on the sale price.
Is there any way that this can be treated as capital gains or utilise entrepreneurs relief , as opposed to normal income tax ?
Submitted: 2 years ago.
Category: Tax
Expert: replied 2 years ago.
Thank you for your question...A bonus, fee or commission is treated as income for tax purposes.This bonus related to the sale price of a company would be taxable under normal income tax rules, I'm afraid.I am sorry if this may not be the answer you were hoping for. I hope this is helpful and answers your question.If you have any other questions, please ask me before you rate my service – I’ll be happy to respond.