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Here to help on your journey

Would you like to provide yourself and your employees with life assurance? Is your business too small to justify a group life assurance policy?

 

Even if it is, it doesn’t mean that you and your employees may not have the need for life cover. Policies can be taken out and paid for by your business and put in trust for you or your employees’ dependants or desired beneficiaries. The results being:

 

a lump sum paid to the selected beneficiaries in the same way a personal policy would work

 

but with,

 

no National Insurance liability,

no benefit-in-kind liability,

the likelihood of these payments being classed as allowable deductions for your business, which may help to reduce any potential Corporation Tax liability and,

the payments not counting towards an individual’s lifetime or annual allowances.

 

Please remember tax law may change in the future and will depend on your individual circumstances. If you would like more information or would like to take advantage of this opportunity please contact us on: 01670 840 840.

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A local group of financial advisors based in the North East