Relevant Life Insurance for Contractors – 6 Ways To Save Tax

Whether you are a business owner or a contractor, a Relevant Life policy offers incredibly tax-efficient life insurance.

 

1. Save Tax

You immediately save tax by the business paying the life cover premium.

2. Not Treated as

It is not treated as a benefit-in-kind; the premium is not included as a P11D benefit.

3. Not Subject to

Premiums are not subject to National Insurance payments for the employer or employee.

 

4. Tax Relief

Your business can claim Corporation Tax Relief on the premiums.

5. Tax Free

The benefit is payable tax free.

6. Does not Count

The benefit does not count towards your lifetime allowance for pension purposes.

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