This week the Government confirmed they are taking action to ensure that swift and fair compensation is made available to the postmasters who were affected by the Horizon scandal as part of the Historical Shortfall Scheme (HSS).
So far, the HSS has made good progress with over 99% of original claimants receiving an offer of compensation but the treatment of tax awards has had the effect of unfairly reducing the net compensation received.
As such, the Government has announced that it will support the Post Office with an estimated £26m to make additional payments to postmasters in the HSS to ensure compensation is not unduly lost to tax. To avoid further complexity, the Government intends to legislate to make these additional payments exempt from Income Tax, Capital Gains Tax and National Insurance contributions.
Additionally, all claimants in the scheme will be able to access funding for independent tax advice of up to £300 to support them in filling out their tax returns.
I am pleased with this progress as I know it has impacted some local Stroud people.
