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."
To see today's news, click here.
Tax-News Reviews

A review and forecast of Cyprus's international business, legal and investment climate.

A review and forecast of Malta's international business, legal and investment climate.

A review and forecast of Jersey's international business, legal and investment climate.

A review of the latest budget news and government financial statements from around the world.
Stay Updated
Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.
By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.
To manage your mailing list preferences, please click here »