The Horizon Convictions Redress Scheme and Horizon Shortfall Scheme Fixed Sum Award (Tax Exemptions and Relief) Regulations 2024
These Regulations provide for exemptions from income tax and capital gains tax and a relief from inheritance tax for Horizon Convictions Redress Scheme compensation payments and Horizon Shortfall Scheme Fixed Sum Awards and an exemption from corporation tax for Horizon Shortfall Scheme Fixed Sum Awards. Horizon Convictions Redress Scheme compensation payments are made by the Department for Business and Trade to people who have had a conviction involving the Horizon system quashed by legislation. Horizon Shortfall Scheme Fixed Sum Awards are made by Post Office Limited to people who are eligible for compensation under the Horizon Shortfall Scheme or are a nominated individual to ensure they receive a total of £75,000 in compensation.
Lifecycle
Department
Made
25 Jul 2024
—
In force
16 Aug 2024
Enabling power
The Treasury make these Regulations in exercise of the powers conferred by paragraphs 2(5), 3(5), 4(3)(c) and 5(7) of Part 1 and 7(1)(e), 7(3), 9(3)(b) and (d) and (4) and 10(3)(b), (4)(b) and (5) of Part 2 of Schedule 15 to the Finance Act 2020.
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