What is Tax Advantaged Protection? We find that company directors are often paying for their own life insurance and income protection. Much of these benefits can be expensed through their companies if they are proportional to pay and arms length. This will save on corporation tax.
Why do we do it? As well as saving on corporation tax, it protects our Ltd Co directors and reduces their personal spending on insurance.
What benefit does this provide? Relevant life insurance is paid for by the company but provides the beneficiaries a tax free pot of capital, which is paid into a trust is outside of their estate for IHT.
What do we need from the client? Data and some of their time. Modest monthly premiums paid for by the Ltd Co.
What will we produce? A recommendation report and put the policies on risk and in trust.
What tools do we use? We use Iress exchange for quotations, as well as direct access to a wide range of underwriters.