Legislation – Victims and Prisoners Act 2024
Schedule 1Infected Blood Compensation Authority
Part 2Transfer schemes
Tax treatment of transfer schemes
21
(1)
The Treasury may by regulations make provision varying the way in which a relevant tax has effect in relation to—
(a)
anything transferred under a scheme under paragraph 20, or
(b)
anything done for the purposes of, or in relation to, a transfer under such a scheme.
(2)
(a)
a tax provision not to apply, or to apply with modifications, in relation to anything transferred;
(b)
anything transferred to be treated in a specified way for the purposes of a tax provision;
(c)
the Secretary of State or the Minister for the Cabinet Office to be required or permitted to determine, or specify the method for determining, anything which needs to be determined for the purposes of any tax provision so far as relating to anything transferred.
(3)
(a)
a tax provision not to apply, or to apply with modifications, in relation to anything done for the purposes of or in relation to the transfer;
(b)
anything done for the purposes of, or in relation to, the transfer to have or not have a specified consequence or be treated in a specified way;
(c)
the Secretary of State or the Minister for the Cabinet Office to be required or permitted to determine, or specify the method for determining, anything which needs to be determined for the purposes of any tax provision so far as relating to anything done for the purposes of, or in relation to, the transfer.
(4)
In this paragraph references to the transfer of property include the grant of a lease.
(5)
In this paragraph—
“relevant tax” means income tax, corporation tax, capital gains tax, value added tax, stamp duty or stamp duty reserve tax;
“tax provision” means any legislation about a relevant tax.