{
  "url": "https://openlegislation.uk/london-capital-and-finance-compensation-scheme-chargeable-gains-exemption-regulations-2021/regulation-2",
  "json_url": "https://openlegislation.uk/london-capital-and-finance-compensation-scheme-chargeable-gains-exemption-regulations-2021/regulation-2.json",
  "legislation": "uksi/2021/1385",
  "legislation_title": "The London Capital and Finance Compensation Scheme (Chargeable Gains Exemption) Regulations 2021",
  "legislation_url": "https://openlegislation.uk/london-capital-and-finance-compensation-scheme-chargeable-gains-exemption-regulations-2021",
  "path": "regulation/2",
  "kind": "regulation",
  "number": "2",
  "heading": "Exemption from capital gains tax for compensation payments to customers under LCF Compensation Scheme",
  "text": "(1) A compensation payment made under the LCF Compensation Scheme is a qualifying payment for the purposes of paragraph 4 of Schedule 15 to the Finance Act 2020.\n(2) In this regulation—\n(a) “the LCF Compensation Scheme” means the scheme established by the Treasury on 3rd November 2021 and administered by the Financial Services Compensation Scheme Limited which provides compensation to customers of London Capital & Finance plc adversely affected by matters identified in the Gloster Report;\n(b) “the Gloster Report” means the Report of the Independent Investigation into the Financial Conduct Authority’s Regulation of London Capital & Finance plc, as revised on 10 December 2020.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "footnote",
      "label": "f1",
      "text": "The Scheme Rules are published at https://www.gov.uk/government/publications/london-capital-finance-lcf-compensation-scheme, and paper copies can be obtained on application to The Correspondence and Enquiry Unit, HM Treasury, 1 Horse Guards Road, Westminster, London SW1A 2HQ."
    },
    {
      "type": "footnote",
      "label": "f2",
      "text": "The Report was delivered to the Financial Conduct Authority on 23 November 2020 and revised on 10 December 2020. It was presented to Parliament under section 82 of the Financial Services Act 2012 (c. 21) and is available at https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/945247/Gloster_Report_FINAL.pdf."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2021/1385/regulation/2",
    "retrieved_at": "2026-10-28T22:06:14.696651+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}