For the purposes of calculating the restriction of the chargeable gain in ¶343-440 above, premiums payable under a restricted relief qualifying policy (see ¶343-400) are ‘allowable’ if:

(1)they are payable before the ‘restricted relief date’ (i.e. 6 April 2013 or such later date on which the policy became a restricted relief qualifying policy);

(2)they are paid after that date, and in any 12 month period beginning with that date or an anniversary of that date and ending before the chargeable event (or such shorter period ending with the chargeable event) to the extent that they do not exceed the ‘premium limit’ .

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