伊人直播

A qualifying policy is issued on 1 January 2000. It is therefore a protected policy (IPTM2072) as it was issued before 21 March 2012. Its annual premiums payable are 拢4,000.

No other qualifying policies are held.

The policy is due to mature on 31 December 2024.

On 1 January 2014 the policy is varied and the amount of premiums payable per annum is increased to 拢5,000. As this is a variation after 21 March 2012 of a qualifying policy issued before 21 March 2012 and premiums are over the annual limit the protected policy now becomes a restricted relief qualifying policy (RRQP).

Total premiums payable are (拢4,000 x 14) and (拢5,000 x 11) = 拢111,000.

The policy matures on 31 December 2024 giving rise to a gain of 拢100,000.

Relief in full would be available for 拢4,000 per annum from 1 January 2000 to 31 December 2013 (拢4,000 x 14 = 拢56,000).

Relief between 1 January 2014 and 31 December 2024 would be restricted to 拢3,600 per annum (拢3,600 x 11 = 拢39,600).

The gain chargeable to tax on the maturity of that policy is reduced using the statutory formula:

Gain x Total amount of allowable premiums payable / Total amount of premiums payable

This formula applies in respect of the policy on which the chargeable gain arises and not the total premiums payable for all policies in existence.

In this case the calculation would be:
拢100,000 x (拢56,000 + 拢39,600) / 拢111,000 = 拢86,126聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽

The taxable gain is:
Gain less reduction = revised gain聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽 聽聽

拢100,000 - (拢86,126) = 拢13,874聽聽聽聽聽聽