§ Miss Joan Lestorasked the Chancellor of the Exchequer if he will seek to amend the laws relating to insurance schemes which enable tax to be avoided by the arrangements made for the payment of school fees.
§ Mr. Robert Sheldon,pursuant to his reply [Official Report, 25th January 1977; Vol. 924, c. 589], gave the following information:
A person who takes out a life assurance policy is entitled to tax relief for the premiums he pays provided the policy satisfies the requirements of the income tax legislation. These requirements are not related to the purposes for which the proceeds of a policy are to be put.