Scorp, pro motorcycle rider 100% shareholder, rider becomes injured, yearly scorp pays for an injury policy through Lloyds of London. Pays 80,000 a year for policy of which Scorp expenses the 80g.
The shortened season after injury produces a claim for 291,000. Is it taxable? Or is the Corporation able to show it tax free?
Best Answer Click here
Taxable to the corporation
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