Personal injury compensation payments

Sep 03, 2018

Revenue have updated its Tax and Duty Manual which sets out how investment income arising from compensation payments in respect of personal injuries is treated for tax purposes  to reflect additional tax reliefs that may be available to permanently incapacitated individuals.

In addition to relief from Income Tax and Capital Gains Tax (under section 189 TCA 1997), the guidance highlights relief that may be available from DIRT, life assurance exit tax, tax deducted by investment undertakings and Dividend Withholding Tax.