HMRC have made SI 2023/184 The Post Office Horizon Compensation and Infected Blood Interim Compensation Payment Schemes (Tax Exemptions and Relief) Regulations 2023.
“These Regulations provide for exemptions from income tax and capital gains tax in relation to Overturned Historical Conviction compensation payments, Group Litigation Order compensation payments and Infected Blood Scheme compensation payments and a relief from inheritance tax in relation to Overturned Historical Conviction compensation payments and Infected Blood Scheme compensation payments.
Overturned Historical Conviction compensation payments are made by Post Office Limited to people who have had a conviction quashed because it involved evidence from the Horizon system. Group Litigation Order compensation payments are made by the Department for Business, Energy and Industrial Strategy or the Department of Business and Trade to the people who were a party to a claim against Post Office Limited in respect of the Horizon system that was subject to a group litigation order. The Infected Blood Scheme provides an interim compensation payment to people in receipt of support from one of the four UK infected blood support schemes.”
https://www.legislation.gov.uk/uksi/2023/184/contents/made
Related content from Claritax Books
Written for accountants and other tax advisers at an intermediate level, Capital Gains Tax is built firmly on a foundation of statutory rules and case law principles. It is illustrated throughout with practical examples, and most chapters include a summary of pitfalls and planning points.
