can I get tax relief

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can I get tax relief

Postby Jo Jo on Wed Mar 04, 2023 1:42 pm

my father said i can reclaim my tax on the money i pay each mth on my life policy. is he rite?
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Re: can I get tax relief

Postby Broker Boy on Wed Mar 04, 2023 2:54 pm

if you have something called a "pension life insurance policy" he is right - but i doubt whether you have! pension life insurance policies were only sold 2/3 years ago and then only for about 4/5 months. the government created this type of policy in an autumn budget and by xmas realised they had made a mistake and withdrew the tax relief. Assuming that yours is NOT a "pension life insurance policy" the monthly premiums will not qualify for tax relief. If you are in any doubt, you should contact teither he insurance company or th firm that sold the policy to you.
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