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Chapter 10
Interest and tax
[ch 10: page 321]If the sum awarded remains unpaid 42 days after the tribunal decision, interest is payable on amounts outstanding.
A compensation payment for unfair dismissal under a compromise agreement is tax free up to £30,000, even if the employee is reinstated, as long as it is genuinely compensation for loss of the job, rather than earnings or a payment for services (HM Inspector of Taxes v Clayton [2005] IRLR 108).