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What does this mean to you? If you are one of the following, we can help:
■Relevant Life Policy Plans are a must for directors of their own company. Why pay for life cover yourself, when you can get your company to fund it?
■High-earning employees who have substantial pension funds and do not want their death in service benefits to form part of their lifetime allowance.
■Small businesses that do not have enough eligible employees to warrant a group life scheme.
Why take out a Relevant Life Policy?
The company can make the payments, usually as an allowable deduction without them being treated as a benefit in kind, which means:
■Payments are treated as a business expense and are likely to be an allowable deduction against Corporation Tax for the employer.
■No liability for the employer or employee to National Insurance.
■No liability for the employee to Income Tax.
■Benefits paid tax free to the nominated beneficiaries.
■These payments do not form part of an individual’s annual or lifetime allowance.
For further information and advice, please contact Linda Wheatley on 0191 232 1151 or email email@example.com.
Protection insurance is a complex area of Financial Services. We offer a free inital consultation ans many of our clients have benefited from a full protection review.