Inheritance tax: victims of persecution during Second World War era

Finance Bill – in a Public Bill Committee am 2:15 pm ar 5 Gorffennaf 2016.

Danfonwch hysbysiad imi am ddadleuon fel hyn

Question proposed, That the clause stand part of the Bill.

Photo of Kirsty Blackman Kirsty Blackman Shadow SNP Spokesperson (House of Lords)

I am pleased that this clause has been included in the Bill. It seems to be a sensible measure, and I am pleased to note that there will be the ability to tidy up afterwards if anything else needs mopping up. The Scottish National party welcomes the clause.

Photo of David Gauke David Gauke The Financial Secretary to the Treasury

I thank the hon. Lady for her support. I would expect such a measure to have the support of the whole Committee. As the Prime Minister said on National Holocaust Day,

“whatever our faith, whatever our creed, whatever our politics” it is right that the whole country should stand together to remember the

“darkest hour of human history.”

To that end, the Government have committed to building a national memorial in London to show the importance that Britain places on preserving the memory of the holocaust.

The clause provides further reassurance and certainty to holocaust victims by placing on a statutory footing their right not to pay inheritance tax on the compensation they receive as a result of their persecution. I am proud that the Government have extended the inheritance tax exemption even further to include a one-off compensation payment for the victims who endured such an unimaginable trauma in their childhood. I am delighted that the clause has cross-party support.

Question put and agreed to.

Clause 84 accordingly ordered to stand part of the Bill.

Clause 85