Budget 06: Holocaust tax reflief extended
Payments made by foreign banks and building societies relating to holocaust compensation have tax relief extended
Further tax relief on the dormant accounts of holocaust victims has been
announced by Gordon Brown in the Budget.
First announced in July 2005 to exempt payments made by foreign banks and
building societies from tax in relation to dormant accounts, the exemption has
been extended by Brown to cover payments made from 1996/1997 tax year onwards.
The revised date has been introduced and will avoid opening tax liabilities
from earlier years.