Paragraph 10 Exemption from income tax and capital gains taxF1
Paragraph 3(1) and (2) (exemption from income tax) applies to a relevant onward payment as it applies to a qualifying payment.
Paragraph 4(1) and (2) (exemption from capital gains tax) applies to a relevant onward payment as it applies to a qualifying payment.
Sub-paragraph (1) has effect—
in the case of relevant onward payments that relate to paragraph 7(1)(a), (b), (c) or (d), whenever the payments are received;
Sub-paragraph (2) has effect—
in the case of relevant onward payments that relate to paragraph 7(1)(a), (b), (c) or (d), in relation to disposals whenever made;
The date specified in regulations as mentioned in sub-paragraph (3)(b) and (4)(b) may be a date before the regulations are made.
Annotations
Textual amendments
- F1
Sch. 15 Pt. 2 inserted (22.2.2024) by Finance Act 2024 (c. 3), s. 12(2)
Modifications
- C1
Sch. 15 para. 10(3)(b) applied (28.4.2025) by The Horizon Shortfall Scheme Appeals (Tax Exemptions and Relief) Regulations 2025 (S.I. 2025/434), regs. 1, 7(1)
- C2
Sch. 15 para. 10(3)(b) applied (20.11.2025 in relation to payments and disposals received on or after 27.10.2025) by The Post Office Capture Redress Scheme (Tax Exemptions and Relief) Regulations 2025 (S.I. 2025/1130), regs. 1, 7
- C3
Sch. 15 para. 10(4)(b) applied (28.4.2025) by The Horizon Shortfall Scheme Appeals (Tax Exemptions and Relief) Regulations 2025 (S.I. 2025/434), regs. 1, 7(2)
- C4
Sch. 15 para. 10(4)(b) applied (20.11.2025 in relation to payments and disposals received on or after 27.10.2025) by The Post Office Capture Redress Scheme (Tax Exemptions and Relief) Regulations 2025 (S.I. 2025/1130), regs. 1, 7