What does grossing up your schedule of loss mean?
Grossing up is an important calculation in your schedule of loss to work out how much compensation you should receive after tax, so that you get the correct compensation for your net loss. If your claim for lost earnings is less than £30,000.00 you will not be taxed on it. If your lost earnings comes to more than £30,000.00, the amount in excess of £30,000.00 will be taxed as income. This page provides step-by-step instructions to calculate how much more you need to be paid so that you are left with the right amount after tax.
Compensation for loss of earnings and compensation for loss of pension rights are both calculated on a net basis. The Employment T
Last Updated: [18/10/2022]