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| '''Life |
'''Life assurance premium relief''' (LAPR) is a ] taxation rule. | ||
| It is a tax break |
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 ] ]. | ||
| It is due in respect of premiums payable under any such life assurance policy issued in respect of an insurance made before ] ]. For such policies entered into between ] ] and ] ], the policy must also be a qualifying policy. "Qualifying policy" is defined in Schedule 15 of the Income and Corporation Taxes Act 1988. | |||
| Qualifying policies are those where the term is for more than ten years and where they have been enhanced or extended after March 13th, 1984. | |||
| ==Reference== | |||
| *Section 266 of the Income and Corporation Taxes Act 1988 | |||
| ] | ] | ||
Revision as of 11:06, 14 January 2007
Life assurance premium relief (LAPR) is 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.
Reference
- Section 266 of the Income and Corporation Taxes Act 1988