Consultation outcome

Legislating Extra Statutory Concession D33

This consultation has concluded

Download the full outcome

Legislating Extra Statutory Concession D33_Summary of Responses

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Detail of outcome

The response document summarises the responses received to the consultation and the next steps.

Original consultation

Summary

HMRC is seeking views on introducing legislation to replace the long-standing Extra Statutory Concession D33.

This consultation ran from
to

Consultation description

Extra Statutory Concession (ESC) D33 covers a number of circumstances where a capital sum is received from a right of action.

The concession was amended in January 2014 so that only the first £500,000 of a capital sum where there is no underlying asset was exempt, and exemption for amounts in excess of this had to be made in writing to HMRC.

This consultation seeks views on introducing a limit of £1,000,000 exemption with amounts in excess of this liable to Capital Gains Tax (CGT).

It also seeks views on legislating the relief given by ESC D33 for personal compensation or damages and indemnities.

Documents

Legislating Extra Statutory Concession D33_consultation

This file may not be suitable for users of assistive technology. Request an accessible format.

If you use assistive technology (such as a screen reader) and need a version of this document in a more accessible format, please email different.format@hmrc.gsi.gov.uk. Please tell us what format you need. It will help us if you say what assistive technology you use.

Published 31 July 2014
Last updated 5 November 2015 + show all updates
  1. Summary of responses published
  2. First published.