Relevant life policies are paid for by your company and the premiums can be counted as an allowable business expense.
This means that premiums paid will usually qualify for relief on Corporation Tax, Income Tax and National Insurance. Also the benefits are;
Relevant Life Insurance Policies are;
For you if you are a company director employed by your company and/or for your employees.
Available to companies of any size from just one employee. Other schemes are usually only available to companies of over 5 employees
Especially beneficial for high earners with large pension pots as other death in service benefits can take them over the Lifetime Pension Allowance as the policy is Held in Trust and benefits are therefore paid free of Inheritance Tax (also avoiding probate).
Available for employees aged 17 - 73
Suitable for businesses wishing to Attract and retain the best staff
Note - Information Regards taxation levels and basis of reliefs are dependent on current legislation, individual circumstances are not guaranteed and may be subject to change.
For a no obligation FREE consultation call:
The FCA registration number of
‘Your World Financial Services’ is 600934.
This information can be verified at www.fca.org.uk/register
or by contacting the FCA on 0800 111 6768.
Your World Financial Services
2 The Square
KENT CT7 9AB