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Tax on pension compensation
Peter19
Posts: 1 Newbie
Hi
Not sure if this is the right place but please feel free to point me.
What I need to know is do you pay tax on compensation payed by the fscs ?
I had a couple of pension investments that have gone wrong one to fraud and the the other really bad advice, I made a claim to the fscs and was happy to receive most of the money I lost back.
But they told me that I may have to pay tax on it.
Can any one help please?
Thanks Pete
Not sure if this is the right place but please feel free to point me.
What I need to know is do you pay tax on compensation payed by the fscs ?
I had a couple of pension investments that have gone wrong one to fraud and the the other really bad advice, I made a claim to the fscs and was happy to receive most of the money I lost back.
But they told me that I may have to pay tax on it.
Can any one help please?
Thanks Pete
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