E1.1310 Outline of the system
Life assurance premium relief is abolished in respect of all policies with effect from, broadly, 6 April 2015 (see E1.1300).
Since 1979–80 a system of premium relief by deduction has applied, whereby the taxpayer deducts and retains, at the time of payment of the premium, an appropriate amount (currently 12·5% although the rate has varied over time) in satisfaction of premium relief due1.
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