Tax free pension if you've got a gallantry medal?
Annuities and additional pensions paid to holders of certain awards
The following are not treated as income for any income tax purposes
•annuities and additional pensions paid to holders of the Victoria Cross
•annuities and additional pensions paid to holders of the George Cross
•annuities paid to holders of the Albert medal or Edward medal
•additional pensions paid to holders of the following awards
•Military Cross
•Distinguished Flying Cross
•Distinguished Conduct Medal
•Conspicuous Gallantry Medal
•Distinguished Service Medal
•Military Medal
•Distinguished Flying Medal.
Purchased life annuities: special types of annuity
The following are not treated as income for any income tax purposes
•annuities and additional pensions paid to holders of the Victoria Cross
•annuities and additional pensions paid to holders of the George Cross
•annuities paid to holders of the Albert medal or Edward medal
•additional pensions paid to holders of the following awards
•Military Cross
•Distinguished Flying Cross
•Distinguished Conduct Medal
•Conspicuous Gallantry Medal
•Distinguished Service Medal
•Military Medal
•Distinguished Flying Medal.
Purchased life annuities: special types of annuity
The DSC, which may be granted posthumously, is "...awarded in recognition of an act or acts of exemplary gallantry during active operations against the enemy at sea."[1]
Personal interest!
The DSC, which may be granted posthumously,
I often see erroneous references to "posthumous DFCs" etc during WW2 etc, but this could not happen. Confusion may be caused by the fact that an individual may have been recommended for an award, but subsequently died before the medal itself was conferred, but that is not a posthumous award in the correct sense. The DSO used to be given as a gallantry medal, but as it is an order, rather than a decoration, it cannot be awarded posthumously, and neither can knighthoods or any other order of chivalry.
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Which really shows what a strange world some people live in...........
I guess the distinction really matters to them
Personally if someone is going to be recognised for bravey , dead or alive, the "grade" surely is totally irrelevant???
I guess the distinction really matters to them
Personally if someone is going to be recognised for bravey , dead or alive, the "grade" surely is totally irrelevant???
Last edited by Heathrow Harry; 21st Mar 2018 at 16:51.
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Personally if someone is going to be recognised for bravey , dead or alive, the "grade" surely is totally irrelevant???
Many "accumulative" awards of DFCs for example were often awarded at the end of a Bomber Command tour during WW2. However, it was considered that the sentiment of losing a colleague could lead to an accumulative award for being a nice chap and therefore they were made posthumous to avoid this.
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My understanding is that the MC was made posthumous to prevent "sentimental awards" following the death of an officer (the award was instigated in 1915 when there were lots of casualties) - it was felt at the time that if awarded posthumously then such awards would be over applied for and dilute the reason for the medal which was strictly for gallantry and going above and beyond. The other service awards (DSC, DFC etc) were treated the same way.
There is an interesting discussion on this matter on the Great War Forum, here
Posthumous awards - Other Great War Chat - Great War Forum
I think it can be summed up by saying that the regulations clearly stated that only the VC or an MID could be given posthumously, but that in many cases the rules were "bent".
Posthumous awards - Other Great War Chat - Great War Forum
I think it can be summed up by saying that the regulations clearly stated that only the VC or an MID could be given posthumously, but that in many cases the rules were "bent".
Until 2000, the value of medals for gallantry was liable to be included in estates for inheritance tax purposes, and only in 2014 was the value of other awards made exempt from IHT.
There is also an exemption from Inheritance Tax for the estates of those that die as a result of active service, even if the death occurs many years later, so long as the death is related to an occurrence on active service. So, if the Duke of Westminster had been mobilised for Herrick and succumbed, his massive estate would have been passed on free of IHT. As a tax planning strategy though, it is a bit extreme!
More recently, this has been extended to the emergency services.
There is also an exemption from Inheritance Tax for the estates of those that die as a result of active service, even if the death occurs many years later, so long as the death is related to an occurrence on active service. So, if the Duke of Westminster had been mobilised for Herrick and succumbed, his massive estate would have been passed on free of IHT. As a tax planning strategy though, it is a bit extreme!
More recently, this has been extended to the emergency services.
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I was present when Michael Fitz-Allan Howard (Major General LGCVO, CB, CBE, MC Marshal of the Diplomatic Corps Gold Stick-in-Waiting and Colonel of the Life Guards for 20 years ) tore a strip off the late Duke for "over-representing" his service record...
Amusing ........ you find proto-Walts in every walk of life
Amusing ........ you find proto-Walts in every walk of life
