Commentary

E1.1313 Method of granting relief

Personal and employment tax

E1.1313 Method of granting relief

E1.1313 Method of granting relief

Life assurance premium relief is abolished in respect of all policies with effect from, broadly, 6 April 2015 (see E1.1300).

In general premium relief under ICTA 1988, s 266 is given by allowing an individual to make an appropriate deduction in respect of premium relief from premium payments to the life office concerned, and not (as in years before 1979–80) by allowing a deduction from income tax chargeable upon him. The 'deficiency' which is suffered by the life offices in consequence of the deductions made from premium payments, is made good by HMRC1.

This arrangement does not

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