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HMRC internal manual

Tax Credits Technical Manual

HM Revenue & Customs
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Further disregards in the calculation of investment income: Compensation payments to Holocaust victims

The Tax Credits (Definition and Calculation of Income) Regulations 2002, Reg. 10(2), Table 4, Item 7.

When calculating investment income, disregard the following:

  • Any compensation received by the claimant from a bank or building society for interest on an unclaimed account held by a Holocaust victim and which is vested in the Custodian of Enemy Property under section 7 of the Trading with the Enemy Act 1939 and exempt from income tax under section 756A of ITTOIA .