Life policy/insurance

[paye-help]

If a life policy paid from the Company account for a sole Director Company considered a taxable benefit?

 

[tony84]

Do you know what type of policy it is who it will get paid out to?
Generally speaking you have Key man insurance, Relevent life insurance and another which I can not think of.

https://www.aviva.co.uk/adviser/documents/view/al18009c.pdf - this might be useful.

 

[paye-help]

The policy will get paid out to spouse.

Thanks

 

[Gordon - Commercial Finance]

Relevant Life policy is tax deductible.

 

[paye-help]

And no benefit in kind?

 

[somedream]

And no benefit in kind?

Read the Aviva document, it answers this question and everything else about it.

 

[MikeJ]

Do you know what type of policy it is who it will get paid out to?
Generally speaking you have Key man insurance, Relevent life insurance and another which I can not think of.

Critical illness?

 

[tony84]

I dont think you can get Critical Illness cover for a director paid for through the company.
Its a specific type of life insurance but I think I may have been confusing myself with Executive PHI cover which is a type of income protection for company directors.