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Expert Lu
Expert Lu, Business Consultant
Category: Tax
Satisfied Customers: 309
Experience:  ACCA Diploma
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I would like to consult a tax advisor in relation to the tax

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I would like to consult a tax advisor in relation to the tax liability existing, if any, on my partner's home should it be sold as part settlement in civil litigation.
JA: When was the property or asset sold?
Customer: It hasn't been - there is an ongoing mediation to determine a gross settlement figure imminently which will include a value for the house and a value for the compensation arising from damage caused to the property and enjoyment etc..
JA: Is there anything else the Accountant should know before I connect you? Rest assured that they'll be able to help you.
Customer: The house as unrepaired is valued at £600K. Circa £200K is required to repair and a repaired market value of £800K has been agreed. A top figure of £325K in compensation and to cover legal fees is being suggested.

Hello and welcome !

I am an expert with JustAnswer and I am happy to assist you with your question.

Customer: replied 17 days ago.
Morning - thank you

I am currently reviewing your question  and I will get back to you shorty.

I will call shortly.

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