Termination payments and benefits: Section 401 ITEPA 2003: exceptions: terminal grants, payments and benefits to members of HM Forces
Section 411 ITEPA 2003 as amended by Section 63(1) FA 2007
There is no charge under Section 401 ITEPA 2003 for a payment or benefit provided:
- under a Royal Warrant, Queen’s Order or Order in Council to a member of H M Forces
- by commutation of an annual or periodical payment under such a Warrant or Order to a lump sum
- (from 2006/07) under a scheme established by an Order under Section 1(1) of the Armed Forces (Pensions and Compensation) Act 2004. The Armed Forces Compensation Scheme is such a scheme.