½Û×ÓÊÓƵ

E1.1340 Non-resident policies taken out after 17 November 1983

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

Additional requirements¹ for the grant of qualifying status were introduced for policies issued outside the UK under insurances made after 17 November 1983. Such policies are referred to as new non-resident policies.

A non-resident policy issued in respect of an insurance made after 31 March 1976 could not be a qualifying policy unless it is certified as such by the Board² or it conforms to a standard form prescribed by the Board³. A new non-resident policy may not be certified, and even if it conforms to the standard form it is not a qualifying policy, until one of two sets of conditions is fulfilled with respect to it.

Those conditions are either⁴:

1. Ìý

   (a)ÌýÌýÌýÌý the policy will be a qualifying policy at such time as:

2. 1. Ìý

      (1)ÌýÌýÌýÌý the company issuing the policy is lawfully