We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Life insurance and tax deduction
presh_2
Posts: 26 Forumite
I am self employed and I have a life insurance, critical illness and income protection policies. I am not sure if the premiums paid monthly is tax deductible? I would highly appreciate any information.:beer:
What good am I, if I am like the rest. - Bob Dylan
0
Comments
-
Hi Presh
I am an IFA so please do not take this post as advice as that has a specific meaning for regulated people like me.
If you are self employed the answer is no.
The route is to have a limited company and then get an IFA who specialises in this to write the policies from the company.For example life cover could be an employee benefit in such as instance and as the company awards it then it would be tax deductible.
Sorry if this isn't the answer you wanted to hear.I am an Independent Financial Adviser. For regulated individuals like me there are rules on giving financial advice. Therefore any posts I make are meant to be helpful but are not financial advice.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.4K Banking & Borrowing
- 253.7K Reduce Debt & Boost Income
- 454.4K Spending & Discounts
- 245.4K Work, Benefits & Business
- 601.2K Mortgages, Homes & Bills
- 177.6K Life & Family
- 259.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards