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Clarification of the tax treatment of interim infected blood compensation payments and of the Jobs Growth Plus scheme introduced by the Welsh Government
11 October 2022
Type
Written Ministerial Statement
Department
Treasury
At a Glance
Issue Summary
The statement addresses the tax treatment of interim compensation payments for individuals affected by infected blood and the Welsh Government's Jobs Growth Plus scheme.
Action Requested
The Government is announcing that no income, capital gains, National Insurance contributions, or inheritance taxes will be charged on interim infected blood compensation payments. It will also legislate to exempt these payments in due course and ensure similar tax exemptions for the Jobs Growth Plus scheme from April 2022.
Key Facts
- Interim compensation payment of £100,000 for registered individuals and bereaved partners.
- Payments will not be included as income for tax credit purposes.
- Tax exemption legislation to be introduced in due course.
- HMRC will exercise discretion not to collect any tax on these payments until the legislation is passed.
- Jobs Growth Plus scheme payments exempt from income tax from 1 April 2022.
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