IPTM2160 - Life assurance premium relief: compulsory purchase of deferred annuities
Until 5 April 2013, relief was available for compulsory contributions made by an employee to secure a deferred annuity payable after the contributor바카라 사이트™s death for the benefit of a widow, widower or civil partner, or dependent children. The obligation could be statutory or under terms of employment. It was sometimes referred to as 바카라 사이트™Widows and Orphans바카라 사이트™ 바카라 사이트“ 바카라 사이트™W&O바카라 사이트™.
The amount of premiums on which relief could be given was limited to £100. If an employee made compulsory contributions, and the employer also paid contributions on the employee바카라 사이트™s behalf, only one £100 limit was available.
Relief was due in terms of tax at basic rate on the amount of contributions, but was sometimes given under 바카라 사이트™net pay바카라 사이트™ arrangements, see IPTM2100.