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UK Extends IHT Exemption For WW2 Victims

by Robert Lee, Tax-News.com, London

21 December 2015


The UK Government has announced that compensation payments from the Child Survivor Fund for victims of the Holocaust will be added to the list of schemes exempt from inheritance tax (IHT).

Payments from nine compensation and ex-gratia schemes for survivors of atrocities during World War II are currently exempt from IHT on a concessionary basis. The Child Survivor Fund (a German scheme) was launched earlier this year and provides a one-off payment of EUR2,500 (USD2,717) as compensation for the suffering of Holocaust survivors.

Financial Secretary to the Treasury David Gauke said: "Many people faced appalling persecution during WWII. I'm glad we've been able to extend the inheritance tax exemption even further to include a one off compensation payment for victims who endured this unimaginable trauma in their childhood."

TAGS: inheritance tax | tax | revenue guidance | United Kingdom | ministry of finance | tax authority | Germany

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