Tax Status Of Loss Of Licence
Hi GMH,
Thanks again for the comments. The policy is a group LOL arranged through Aegis and I believe that we are individually named. So, I reckon the ATCOs are the insured.
Going off at a tangent. I have been given 3 months notice as per contract which would normally be taxable. Would any tax reliefs be available due to termination due ill health?
Just wondering if Termination payments and benefits: Section 401 ITEPA 2003: exceptions: payments on account of injury or disability: meaning of disability: Hasted v Homer
Section 406(b) ITEPA 2003 would apply in my situation.
I don't suppose the £30000 tax relief for employment termination would apply in my case?
I'm trying to get advice and information shortly from an employment lawyer.
I believe the HMRC tax treatment of LOL insurance could have implications for ATCOs having LOL insurance through their employers
And thanks again. It is really so much appreciated