If the police wanted to reward someone, to the tune of thousands of pounds, could they do it in a way that was both legitimate and tax exempt for the recipient?
I’m sure I know some accountants.
If the police wanted to reward someone, to the tune of thousands of pounds, could they do it in a way that was both legitimate and tax exempt for the recipient?
I’m sure I know some accountants.
hmmm. in cash? could be tricky, presumably they have some kind of dicretionary fund for rewarding informers etc, however.in kind? easier. priority access to stolen ,recovered, and unclaimed goods might not be difficult to arrange, or failing that if an object is handed in lost, and is not claimed with in-a month?- then the discoverer is free to claim it themselves, i believe
I’m not certain a reward is taxable income- prizes (eg lottery winnings) are certainly exempt.
Tax law is very complicated though and I only know about personal taxation from employment or trade income.