Commentary

E1.1324 Family income policies and mortgage protection policies

Personal and employment tax

E1.1324 Family income policies and mortgage protection policies

E1.1324 Family income policies and mortgage protection policies

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

If a policy, which does not otherwise qualify for premium relief, secures a fixed capital sum on death plus a series of capital sums on death within a specified period (as is usual in a family income policy) it will still qualify if, by notionally splitting the policy and the premiums into two policies, both policies would have qualified1.

If a policy, which does not otherwise qualify for premium relief, secures a capital sum

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