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Is this too good to be true !

Life insurance policy taken out by director in his name, in trust for his wife and paid for by employer limited co [individual is a dir + shareholder of the ltd co ] - called a relevant life policy - & apparently ... not subject to p11d/ nic / paye and is allowable as CT deduction.     Is this correct ? 

the insurance broker would say so of course - but is this correct,  anyone come across this

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By BKD
31st Oct 2011 15:15

Correct

ITEPA 2003 s393B

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See this thread...

... for a slightly longer explanation: http://www.accountingweb.co.uk/anyanswers/relevant-life-policy

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