IHTM27052 - Foreign property: valuation of assets: claims for compensation

Claims for compensation against foreign governments are valued by Shares and Assets Valuation (SAV). This applies to both:

• sterling claims against the Foreign Compensation Commission, under agreements to which the Foreign Compensation Act 1950 applies, and
• non-sterling claims not within the scope of such an agreement. These claims must be referred to SAV by memo, with the relevant correspondence attached, before you make any enquiries about the claim.

Where a payment in respect of a dormant account is made to the beneficiary or beneficiaries of a holocaust victim, the sum may be exempt from tax or duty on the death of the original accountholder (IHTM10262). A concession has been granted to exclude compensation paid to Britons interned by Japanese or Axis forces during World War II (IHTM04421) from the charge to Inheritance Tax.