SE13720 - Termination payments and benefits: Section 148 ICTA 1988: exemptions: terminal grants to members of HM Forces

Paragraph 6 Schedule 11 ICTA 1988 (Section 188(1)(e) ICTA 1988 for payments and benefits received before 6 April 1998)

There is no charge under Section 148 ICTA 1988 for:

• a terminal grant, gratuity or lump sum paid under a Royal Warrant, Queen’s Order or Order in Council to a member of H M Forces and
• a payment that commutes an annual or periodical payment under such a Warrant or Order to a lump sum