Tackling Avoidance: Income Tax - Deficiency Relief

The Government will introduce legislation, effective from today, to target avoidance schemes which create deficiency relief for individuals in connection with life insurance policies to set against their income liable to tax at the higher rate.

• DRAFT LEGISLATION : Life policies etc.: restriction of corresponding deficiency relief (PDF 11K)
• EXPLANATORY NOTE : Life policies etc.: restriction of corresponding deficiency relief (PDF 15K)