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Paragraph 1

(1)

This F1Part of this Schedule provides for the following in respect of qualifying payments—

(a)

an exemption from income tax, and

(b)

an exemption from capital gains tax.

(2)

This F2Part of this Schedule also provides for a relief from inheritance tax in respect of qualifying payments (but see paragraph 5(4), which contains an excepted case).

Annotations

Textual amendments

F1

Words in Sch. 15 para. 1(1) inserted (22.2.2024) by Finance Act 2024 (c. 3), s. 12(3)(c)(i)

F2

Words in Sch. 15 para. 1(2) inserted (22.2.2024) by Finance Act 2024 (c. 3), s. 12(3)(c)(ii)

Notes on Part 1

Textual amendments

F1

Sch. 15 Pt. 1 heading inserted (22.2.2024) by Finance Act 2024 (c. 3), s. 12(3)(b)