Personal and trust taxation including CGT and IHT

20 Oct 2021

US ‘stimulus’ payments

We have been asked whether the US ‘stimulus’ payments are taxable in the UK. HMRC has confirmed to us that the payments are not taxable in the UK. HMRC consider that the amounts wouldn’t be caught by s.683 ITTOIA05 as an annual payment, nor under s.687 as miscellaneous income.