The Post Office Horizon Shortfall Scheme Top-Up Payments (Tax Exemptions) Regulations 2023

• Citation: S.I. 2023/772
• Sections: 3

Section 1 Citation and commencement

These Regulations may be cited as the Post Office Horizon Shortfall Scheme Top-Up Payments (Tax Exemptions) Regulations 2023 and come into force on 1st August 2023.

Section 2 Interpretation

In these Regulations—

“ Horizon Shortfall Scheme ” means the compensation scheme created on 1st May 2020 by Post Office Limited to compensate people who were adversely affected by accounting shortfalls related to the Horizon system;

“ Horizon Shortfall Scheme top-up payment ” means a top-up payment made by Post Office Limited to a recipient of a compensation payment from the Horizon Shortfall Scheme for the purpose of topping-up that compensation payment to account for sums lost to tax;

“ the Horizon system ” means any version of the computer system used by Post Office Limited known as Horizon, Horizon Legacy, Horizon Online or HNG-X;

“ Post Office Limited ” means the private company limited by shares with the company number 02154540 whose registered office is 100 Wood Steet, London, United Kingdom, EC2V 7ER.

Section 3 Exemption from capital gains tax and income tax for Horizon Shortfall Scheme top-up payments

Horizon Shortfall Scheme top-up payments are qualifying payments for the purposes of paragraphs 3 and 4 of Schedule 15 to the Finance Act 2020.