Income Protection Insurance Tax Deductable?

Tek4051

Hi,

I'm a long time lurker on MSE but now need to ask a question.

I'm a self employer sole trader.

For a number of years I have been making a monthly payment from my personal bank account to an insurance company to pay me an income should I become sick/injured and unable to work for an extended period.

It has only just occurred to me that I may be able to claim the premiums against my income tax. Is this the case? Is there a HMRC website page that I need to see?

Any guidance would be much appreciated.

Thanks.

le_loup

No you can't.
... but can you claim on your policy when you are self employed?

dan.date66

le loup is right - I'm afraid you cannot claim the premiums as HMRC regard the policies as for your personal benefit rather than for business, therefore they do not satisfy the "wholly and exclusively" criteria.