‘Status: This is the original version (as it was originally made). This
item of legislation is currently only available in its original format.
STATUTORY INSTRUMENTS
2024 No. 818
CAPITAL GAINS TAX
CORPORATION TAX
INCOME TAX
INHERITANCE TAX
The Horizon Convictions Redress Scheme and
Horizon Shortfall Scheme Fixed Sum Award
(Tax Exemptions and Relief) Regulations 2024
Made - - - - 25th July 2024
Laid before the House 0)
Commons = = = = 26th July 2024
Coming into force ~~ 16th August 2024
The Treasury make these Regulations in exercise of the powers conferred by paragraphs 2(5), 3(5),
4(3)(c) and 5(7) of Part 1 and 7(1)(e), 7(3), 9(3)(b) and (d) and (4) and 10(3)(b), (4)(b) and (5) of
Part 2 of Schedule 15 to the Finance Act 2020(1).
Citation and commencement
1. These Regulations may be cited as the Horizon Convictions Redress Scheme and Horizon
Shortfall Scheme Fixed Sum Award (Tax Exemptions and Relief) Regulations 2024 and come into
force on 16th August 2024.
Interpretation
2.—(1) In these Regulations—
“Horizon Convictions Redress Scheme compensation payment” means a payment made by the
Department for Business and Trade to a person under the scheme announced by His Majesty’s
Government on 13th March 2024 to compensate people who have a conviction involving the
Horizon system quashed by legislation;
(1) 2020. 14. Schedule 15 was amended by section 12 of the Finance Act 2024 (c. 3).
BEIS0000915
BEIS0000915
Document Generated: 2024-08-16
‘Status: This is the original version (as it was originally made). This
item of legislation is currently only available in its original format.
“Horizon Shortfall Scheme Fixed Sum Award” means a payment of compensation made by
Post Office Limited to a person eligible for compensation under the Horizon Shortfall Scheme
or a nominated individual for the purpose of ensuring that person receives a total of £75,000
in compensation under that scheme;
“nominated individual” means any person who was a shareholder or a director of a company
or a partner in a partnership which ceased to exist and that would have been eligible for
compensation under the Horizon Shortfall Scheme.
(2) For the purposes of provision in these regulations made under Part 1 of Schedule 15 to the
Finance Act 2020, “Horizon Shortfall Scheme”, “the Horizon system” and “Post Office Limited”
have the same meaning as they do in Part 2 of that Schedule(2).
Exemptions from income tax for Horizon Convictions Redress Scheme compensation
payments and Horizon Shortfall Scheme Fixed Sum Awards
3.—(1) Horizon Convictions Redress Scheme compensation payments and Horizon Shortfall
Scheme Fixed Sum Awards are qualifying payments for the purposes of paragraph 3 of Part 1 of
Schedule 15 to the Finance Act 2020.
(2) This regulation applies to payments received on or after 13th March 2024.
Exemptions from capital gains tax for Horizon Convictions Redress Scheme compensation
payments and Horizon Shortfall Scheme Fixed Sum Awards
4.—(1) Horizon Convictions Redress Scheme compensation payments and Horizon Shortfall
Scheme Fixed Sum Awards are qualifying payments for the purposes of paragraph 4 of Part 1 of
Schedule 15 to the Finance Act 2020.
(2) This regulation applies to disposals made on or after 13th March 2024.
Relief from inheritance tax for Horizon Convictions Redress Scheme compensation
payments and Horizon Shortfall Scheme Fixed Sum Awards
5.—(1) Horizon Convictions Redress Scheme compensation payments and Horizon Shortfall
Scheme Fixed Sum Awards are qualifying payments for the purposes of paragraph 5 of Part 1 of
Schedule 15 to the Finance Act 2020.
(2) This regulation applies to deaths occurring on or after 13th March 2024.
Exemption from corporation tax for Horizon Shortfall Scheme Fixed Sum Awards
6.—(1) Horizon Shortfall Scheme Fixed Sum Awards are relevant compensation payments for
the purposes of Part 2 of Schedule 15 to the Finance Act 2020.
(2) This regulation applies to payments received on or after 13th March 2024.
Exemption from income tax and capital gains tax for relevant onward payments of Horizon
Shortfall Scheme Fixed Sum Awards
7.—(1) Paragraph 10(3)(b) of Part 2 of Schedule 15 to the Finance Act 2020 has effect in relation
to payments received on or after 13th March 2024 for Horizon Shortfall Scheme Fixed Sum Awards.
(2) Paragraph 10(4)(b) of Part 2 of Schedule 15 to the Finance Act 2020 has effect in relation to
disposals made on or after 13th March 2024 for Horizon Shortfall Scheme Fixed Sum Awards.
(2) These terms are defined in paragraph 13 of Part 2 of Schedule 15 to the Finance Act 2020.
2
BEIS0000915
BEIS0000915
BEIS0000915
BEIS0000915
Document Generated: 2024-08-16
‘Status: This is the original version (as it was originally made). This
item of legislation is currently only available in its original format.
Jeff Smith
Vicky Foxcroft
Two of the Lords Commissioners of His
25th July 2024 Majesty’s Treasury
Document Generated: 2024-08-16
Status: This is the original version (as it was originally made). This
item of legislation is currently only available in its original format.
EXPLANATORY NOTE
(This note is not part of the Regulations)
These Regulations provide for exemptions from income tax and capital gains tax and a relief from
inheritance tax for Horizon Convictions Redress Scheme compensation payments and Horizon
Shortfall Scheme Fixed Sum Awards and an exemption from corporation tax for Horizon Shortfall
Scheme Fixed Sum Awards. Horizon Convictions Redress Scheme compensation payments are
made by the Department for Business and Trade to people who have had a conviction involving the
Horizon system quashed by legislation. Horizon Shortfall Scheme Fixed Sum Awards are made by
Post Office Limited to people who are eligible for compensation under the Horizon Shortfall Scheme
or are a nominated individual to ensure they receive a total of £75,000 in compensation.
A Tax Information and Impact Note covering this instrument will be published on the website at
hittps://www. gov.uk/government/collections/tax-information-and-impact-notes-tiins.
BEIS0000915
BEIS0000915