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| {{Use dmy dates|date=January 2015}} | {{Use dmy dates|date=January 2015}} | ||
| {{Use British English|date=January 2015}} | {{Use British English|date=January 2015}} | ||
| '''Life assurance premium relief''' (LAPR) |
'''Life assurance premium relief''' (LAPR) was a ] taxation rule. | ||
| It is a tax break that may apply to life assurance policies that provide for a capital sum to be paid on death, where the policy commenced prior to 14 March 1984. | It is a tax break that may apply to ] policies that provide for a capital sum to be paid on death, where the policy commenced prior to 14 March 1984. | ||
| It is due in respect of premiums payable under any such life assurance policy issued in respect of an insurance made before 20 March 1968. For such policies entered into between 20 March 1968 and 13 March 1984, the policy must also be a qualifying policy. "Qualifying policy" is defined in Schedule 15 of the Income and Corporation Taxes Act 1988. | It is due in respect of premiums payable under any such life assurance policy issued in respect of an insurance made before 20 March 1968. For such policies entered into between 20 March 1968 and 13 March 1984, the policy must also be a qualifying policy. "Qualifying policy" is defined in Schedule 15 of the ]. | ||
| ⚫ | HMRC planned to abolish LAPR from 6 April 2015<ref></ref> | ||
| ⚫ | HMRC |
||
| ==References== | ==References== | ||
| *Section 266 of the Income and Corporation Taxes Act 1988 | * Section 266 of the ] | ||
| <references /> | <references /> | ||
Latest revision as of 11:35, 14 March 2019
"LAPR" redirects here. For Lawfully Admitted Permanent Resident status, see Permanent residence (United States).Life assurance premium relief (LAPR) was a United Kingdom taxation rule.
It is a tax break that may apply to life assurance policies that provide for a capital sum to be paid on death, where the policy commenced prior to 14 March 1984.
It is due in respect of premiums payable under any such life assurance policy issued in respect of an insurance made before 20 March 1968. For such policies entered into between 20 March 1968 and 13 March 1984, the policy must also be a qualifying policy. "Qualifying policy" is defined in Schedule 15 of the Income and Corporation Taxes Act 1988.
HMRC planned to abolish LAPR from 6 April 2015
References
- Section 266 of the Income and Corporation Taxes Act 1988