Related Commentary  Related HMRC Manuals

268B(1)  A gain is not a chargeable gain if–

(a)it accrues to a person on receipt of a capital sum paid by way of compensation for the deprivation of a foreign asset,

(b)no legal redress was available when the deprivation occurred, and

(c)the sum is paid as the result of a relevant compensation award.

268B(2)  A relevant compensation award is an award or distribution made–


(i)an Order in Council made under the Foreign Compensation Act 1950, or

(ii)arrangements established by the government of a territory outside the United Kingdom that are equivalent in effect to such an Order,

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