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In force since 2025-04-28, as the publisher states.
Copy read on 2026-11-10. The page it was read from
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.
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8 provisions
Title and introductory text
2025 No. 434
CAPITAL GAINS TAX
CORPORATION TAX
INCOME TAX
INHERITANCE TAX
The Horizon Shortfall Scheme Appeals (Tax Exemptions and Relief) Regulations 2025
Made
2nd April 2025
Laid before the House of Commons
3rd April 2025
Coming into force
28th April 2025
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 10(3)(b) and (4)(b) of Part 2 of Schedule 15 to the Finance Act 2020.
Propose a change1 Citation and commencement
These Regulations may be cited as the Horizon Shortfall Scheme Appeals (Tax Exemptions and Relief) Regulations 2025 and come into force on 28th April 2025.
Propose a change2 Interpretation
(1) In these Regulations “Horizon Shortfall Scheme Appeals” means the Scheme for an independent appeals process created by the Department for Business and Trade to assess compensation claims made under the Horizon Shortfall Scheme and make payments of compensation.
(2) For the purposes of provision in these Regulations made under Part 1 of Schedule 15 to the Finance Act 2020, “Horizon Shortfall Scheme” has the same meaning as it does in Part 2 of that Schedule.
Propose a change3 Exemption from income tax for Horizon Shortfall Scheme Appeals payments
(1) A payment made by the Department for Business and Trade to a person under the Horizon Shortfall Scheme Appeals is a qualifying payment for the purposes of paragraph 3 of Part 1 of Schedule 15 to the Finance Act 2020.
(2) This regulation has effect in relation to payments received on or after 28th April 2025.
Propose a change4 Exemption from capital gains tax for Horizon Shortfall Scheme Appeals payments
(1) A payment made by the Department for Business and Trade to a person under the Horizon Shortfall Scheme Appeals is a qualifying payment for the purposes of paragraph 4 of Part 1 of Schedule 15 to the Finance Act 2020.
(2) This regulation has effect in relation to disposals made on or after 28th April 2025.
Propose a change5 Relief from inheritance tax for Horizon Shortfall Scheme Appeals payments
(1) A payment made by the Department for Business and Trade to a person under the Horizon Shortfall Scheme Appeals is a qualifying payment for the purposes of paragraph 5 of Part 1 of Schedule 15 to the Finance Act 2020.
(2) This regulation has effect in relation to deaths occurring on or after 28th April 2025.
Propose a change6 Exemption from Corporation Tax for Horizon Shortfall Scheme Appeals payments
(1) A payment made by the Department for Business and Trade to a person under the Horizon Shortfall Scheme Appeals is a relevant compensation payment for the purposes of Part 2 of Schedule 15 to the Finance Act 2020.
(2) This regulation has effect in relation to payments received on or after 28th April 2025.
Propose a change7 Exemption from income tax and capital gains tax for relevant onward payments for Horizon Shortfall Scheme Appeals payments
(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 28th April 2025 for payments made under the Horizon Shortfall Scheme Appeals.
(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 28th April 2025 for payments made under the Horizon Shortfall Scheme Appeals.
Propose a change