LOL and UK Tax
Hi folks
Over 4 years ago, I fell ill and 2 years ago, CX terminated my contract. The good Dr C was able to assist in a LOL claim which was duly paid. Fast forward to now and I'm filling in my UK tax return for 11/12 and I need to sort out the status of the payment. I'm UK resident.
The LOL payout has been of an enormous help. I tried to get jobs after CX in other walks of life but without success. I tried claiming benefits but couldn't. Ever the resourceful, I started my own business (DcR Computer) and now keep the proverbial wolf from the door. My illness still means I cannot take on large responsibilities, but the bottom line is that having tried what I can, I'd really not like to have to pay HMRC almost half of my payout.
There's not much to go on in the COS. As far as I'm aware, there was nothing removed from my pay or paid on my behalf on a monthly basis. I believe the payouts come from a form of trust fund but this is merely a rumour.
Can anyone in the know please point an ex AOA member in the right direction? Many thanks.
All the best
BB