Agricultural income

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5 Points Posted on 25 May 2020

Compensation Received From Insrance Company For Damage Caused by Hail Storm to the Green Leaf of the Assessee's Tea Garden is an Agricultural Income.HOW ?

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On 25 May 2020 at 14:11 Report
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Quick Summary
Compensation received from an insurance company for hail storm damage to the green leaf of a tea garden is classified as agricultural income. Consequently, this type of income is exempt from taxation in the UK. This means you do not need to pay tax on insurance payouts related to such agricultural losses.

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Finance/Compliance Consultant
69193 Points Posted on 29 May 2020

It is not Taxable Income. 

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On 29 May 2020 at 12:05
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BUSINESS DEVELOPMENT MANAGER
1697 Points Posted on 29 May 2020

It is exempt from taxation being agricultural income.

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On 29 May 2020 at 14:35

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