We’ve been speaking to Matt at Cozens & Dean about a great new product offering…it’s called Relevant Life and basically means a limited company can now pay the premiums for their directors and employees life & critical illness insurance premiums, which is classed as an allowable business expense, not a p11d benefit and works out up to 50% cheaper than paying for it personally.
We asked Matt to tell us more…
“Here at Cozens & Dean – now known as ‘C&D Business Protection Specialists’ are really excited to have just launched a new product which is specially tailored for Limited Companies – it’s the only policy like it in the WHOLE OF THE UK.”
WHAT DOES IT DO?
It’s an individual Life and/or Critical Illness policy for directors and employees which benefits them and their families, however, the big difference is, the company pays the premiums. Unlike conventional Relevant Life policies, you can now include Critical Illness Cover!
DID YOU KNOW…
For every £100 you personally spend (food, groceries, fuel etc), if you’re a middle rate tax payer – you have to earn £172.41 gross.
For every £100 the company spends on a ‘Relevant Life’ policy the net cost to the company is £80.
SO HOW DO YOU BENEFIT?
- Personal Cover the business pays for – not you!
If you have existing cover that you pay for, you can SAVE up to 49% by putting it through the company
- Reduces the Company’s Corporation Tax bill
All premiums are classed as a business expense and therefore offset against the Company’s profits
- It is not classed as a benefit in kind (p11D)
- The policy pays out to yourself or your family – you choose who benefits, which is the same as conventional personal plans.
There’s not much left that you can put through your company and personally benefit from without being taxed.
This is the BIGGEST product to hit Limited Companies in years.
IF YOU ARE A BUSINESS OWNER HERE’S WHAT TO DO NOW
Call Matt on 0330 043 4321
Follow this link to leave an enquiry: http://www.offshorelifeinsurances.com/relevant-life-cover.php