Commentary

E1.1300 Nature and history of relief

Personal and employment tax

E1.1300 Nature and history of relief

Division E1.13     Life assurance premium relief

Reviewed by
DONALD DRYSDALE CA CTA(Fellow) TEP MBCS CITP,

Director, Taxing Words Ltd

MARK DOWNEY, BA

Life Tax Manager at a major listed UK insurance group

For updates affecting this Division please see Part E0 Updates

Life assurance premium relief: Overview

E1.1300 Nature and history of relief

Subject to certain conditions life assurance premium relief under ICTA 1988, s 266 was due to a taxpayer who took out a life assurance policy or contracted for a deferred annuity with a permitted insurance company before 14 March 1984. The amount of the relief is calculated by reference to the amount of the premium allowable at an appropriate rate of tax and this relief is usually

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to TolleyLibrary or register for a free trial