Life assurance premium relief is abolished in respect of all policies with effect from, broadly, 6 April 2015 (see E1.1300).
Provision is made for year end adjustment of premium relief due to any person where the correct amount of relief has not been given under the system of life assurance premium relief by deduction. If the relief given is insufficient, additional relief may be given by a payment made by the Board, or by way of discharge or repayment of tax. If the relief given is excessive an assessment may be made to recover the excess. Any such assessment is treated as an assessment to tax for the year of assessment in which the relief
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