Hi
Any help anyone can give me on this is much appreciated -
I agreed to a Settlement Agreement following a dispute with an LLP of which I was a member/partner, I received a final profit share amount plus a contribution toward my legal fees - clearly distinguished in the Settlement agreement and the later not referred to as Profit Share. The LLP has now filed tax return with the total amount (incl the contribution to legal fees) as my Profit Share allocation. Am I liable therefore for tax on the contribution element? That certainly wasnt the idea
Thanks for any thoughts!!
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