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What is Time Apportionment Relief and how is it calculated?

This relief applies where an offshore plan is held by a chargeable person who is UK resident for only a part of the period between the plan commencement and the chargeable event.

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What is Time Apportionment Relief?

Time apportionment relief is used to reduce a UK chargeable gain. It allows the chargeable gain to be proportionately reduced by the amount of time the plan owner has been resident outside the UK, during the term of the plan.

How is it calculated?

Chargeable Gain X Number of days held as a UK resident

The total number of days the policy is in force

You can find further information on Time Apportionment Relief in our Time Apportionment Relief and Top Slicing Relief.

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