Is FSCS and PPI compensation tax exempt?

Never mind the Euros, Wimbledon and the Olympics. For advisers, this will be a summer of consultations. In a flurry of activity and paperwork, HM Revenue & Customs (HMRC) is publishing no less than 46 consultations before August 2012. There is even a “consultation tracker” on the HM Treasury website to help bamboozled advisers. Reviewing consultations can be a bit like panning for gold – hard work that results in only a few useful nuggets. The consultation entitled Possible changes to income tax rules on interest is no exception. From an adviser perspective, the comments relating t...