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.