# Income and Corporation Taxes Act 1988, Section 274: Limits on relief under section 266.

Extent: E+W+S+N.I.

(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.
(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.
(3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(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.
In 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.

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Source: https://www.legislation.gov.uk/ukpga/1988/1/section/274 (the official version)
Page: https://openlegislation.uk/income-and-corporation-taxes-act-1988/section-274
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.