{
  "url": "https://openlegislation.uk/income-and-corporation-taxes-act-1988/section-274",
  "json_url": "https://openlegislation.uk/income-and-corporation-taxes-act-1988/section-274.json",
  "legislation": "ukpga/1988/1",
  "legislation_title": "Income and Corporation Taxes Act 1988",
  "legislation_url": "https://openlegislation.uk/income-and-corporation-taxes-act-1988",
  "path": "section/274",
  "kind": "section",
  "number": "274",
  "heading": "Limits on relief under section 266.",
  "text": "(1) The aggregate of the premiums . . . in respect of which relief is given to any person under section 266 shall not exceed £1,500 in any year of assessment or one-sixth of that person’s total income, whichever is the greater.\n(2) The aggregate of the relief given under section 266 in respect of premiums . . . payable for securing any benefits other than capital sums on death shall not exceed the amount of the income tax calculated at 12.5% on £100.\n(3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .\n(4) War insurance premiums shall not be taken into account in calculating the limits of one-sixth of total income or of £100 mentioned in this section.\nIn this subsection “war insurance premiums” means any additional premium . . . paid in order to extend an existing life insurance policy to risks arising from war or war service abroad, and any part of any premium . . . paid in respect of a life insurance policy covering those risks, or either of them, which is attributable to those risks, or either of them.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Words in s. 274(1) omitted (with effect in accordance with Sch. 1 para. 7 of the repealing Act) by virtue of Finance Act 2009 (c. 10), Sch. 1 para. 4(2)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Words in s. 274(2) substituted (with effect in accordance with Sch. 1 para. 7 of the amending Act) by Finance Act 2009 (c. 10), Sch. 1 para. 4(3)(a)"
    },
    {
      "type": "F",
      "label": "F3",
      "text": "Words in s. 274(2) omitted (with effect in accordance with Sch. 1 para. 7 of the repealing Act) by virtue of Finance Act 2009 (c. 10), Sch. 1 para. 4(3)(b)"
    },
    {
      "type": "F",
      "label": "F4",
      "text": "Words in s. 274(2) substituted (with effect in accordance with Sch. 1 para. 7 of the amending Act) by Finance Act 2009 (c. 10), Sch. 1 para. 4(3)(c)"
    },
    {
      "type": "F",
      "label": "F5",
      "text": "S. 274(3) omitted (with effect in accordance with Sch. 1 para. 7 of the repealing Act) by virtue of Finance Act 2009 (c. 10), Sch. 1 para. 4(4)"
    },
    {
      "type": "F",
      "label": "F6",
      "text": "Words in s. 274(4) omitted (with effect in accordance with Sch. 1 para. 7 of the repealing Act) by virtue of Finance Act 2009 (c. 10), Sch. 1 para. 4(5)"
    },
    {
      "type": "F",
      "label": "F7",
      "text": "Word in s. 274(4) substituted (with effect in accordance with s. 134(2) of the amending Act) by Finance Act 1996 (c. 8), Sch. 20 para. 20"
    },
    {
      "type": "F",
      "label": "F8",
      "text": "Word in s. 274 heading substituted (with effect in accordance with Sch. 1 para. 7 of the amending Act) by Finance Act 2009 (c. 10), Sch. 1 para. 4(6)"
    },
    {
      "type": "M",
      "label": "M1",
      "text": "Source-1970 s.21(1); 1976 Sch.4 21"
    },
    {
      "type": "M",
      "label": "M2",
      "text": "Source-1970 s.21(3); 1975 Sch.2 6"
    },
    {
      "type": "M",
      "label": "M3",
      "text": "Source-1970 s.21(5)"
    }
  ],
  "outstanding_effects": [
    {
      "type": "repealed",
      "affecting": "ukpga/2012/14",
      "affecting_title": "Finance Act 2012"
    }
  ],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/1988/1/section/274",
    "retrieved_at": "2026-10-29T09:49:54.309394+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}