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People who have been involved in an accident are often entitled to compensation for the injuries they have sustained. In practice, this amounts to tens of thousands of euros, and in the case of more serious injuries, to hundreds of thousands of euros.<\/p>\n
If this personal injury compensation is included in income from employment and property (Box 1), this is taken into account when determining the amount of the compensation. In most cases, the insurance company requires that the compensation not be declared as income in Box 1. At the same time, a tax guarantee is issued to the person entitled to the compensation. Such a guarantee means that the insurance company will cover any income tax that may be due. It is important to strictly comply with the conditions set by the insurer for the tax guarantee.<\/p>\n
Once the claimant has received the personal injury compensation, it is not usually spent in full straight away. The personal injury compensation is often deposited into a savings account. As a result, the personal injury compensation forms part of the assets on which income tax is payable under Box 3 (income from savings and investments). The assets arising from the personal injury compensation are not exempt from Box 3 tax (this has been confirmed, amongst other things, by Amsterdam Court of Appeal<\/a>). Furthermore, this tax is not covered by the tax guarantee issued by the insurance company.<\/p>\n Assets in Box 3 are not only relevant to the amount of income tax payable, but also to entitlement to healthcare and housing benefit. If the assets in Box 3 are too high, entitlement to these benefits ceases.<\/p>\n In his replies to parliamentary questions, the State Secretary for Finance has indicated that he has no intention of introducing exemptions for assets arising from personal injury compensation. He notes that information from the Dutch Association of Insurers shows that, in the case of substantial claims, attention is paid to the potential tax implications, including entitlement to benefits and any consequences for the level of personal contributions towards healthcare costs.<\/p>","protected":false},"excerpt":{"rendered":" Mensen die betrokken zijn geraakt bij een ongeval hebben vaak recht op een schadevergoeding voor het door hen geleden letsel. Het gaat in de praktijk om vergoedingen van enkele tienduizenden en bij ernstiger letsel om enkele honderdduizenden euro’s. Letselschadevergoeding belast in box 1? Indien deze letselschadevergoeding tot het inkomen uit werk en woning (box 1) […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-502","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"acf":[],"_links":{"self":[{"href":"https:\/\/vwg.nl\/en\/wp-json\/wp\/v2\/posts\/502","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vwg.nl\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vwg.nl\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vwg.nl\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/vwg.nl\/en\/wp-json\/wp\/v2\/comments?post=502"}],"version-history":[{"count":0,"href":"https:\/\/vwg.nl\/en\/wp-json\/wp\/v2\/posts\/502\/revisions"}],"wp:attachment":[{"href":"https:\/\/vwg.nl\/en\/wp-json\/wp\/v2\/media?parent=502"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vwg.nl\/en\/wp-json\/wp\/v2\/categories?post=502"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vwg.nl\/en\/wp-json\/wp\/v2\/tags?post=502"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Parliamentary questions<\/h4>\n