Life Insurance - P11D benefit?
It was always my understanding that if an employer is the beneficiary of a life insurance policy then no P11D benefit will arise. Likewise, f the employee is the benificiary then it's a taxable benefit which should be reported on form P11D.
I've just found the following on Tolley's..........
Although not strictly health insurance, it is worth mentioning the tax rules on the provision of life insurance by the employer. As long as the employer arranges the life insurance and pays the insurance provider direct, the provision of life insurance is not a taxable benefit on the employee.
Does this mean that the beneficiary of the policy doesn't affect the treatment either way and life insurance is always a non taxable benefit?? I'm very confused!
- Entrepreneurs' Relief upon sale of a cash rich company 2,186 41
- buying asset and settling vendor's debt 217 6
- Xerocon 2016 1,007 23
- Posting invoices with balance brought forward 227 7
- HMRC now overriding SA bank repayment details on tax returns 584 12
- Personal Tax 482 11
- USA Tax Query 154 1
- Disengagement Help! 1,658 25
- Is HMRC Basic Tools basically wrong? 942 6
- Expenses paid by director (the comapny owner) 275 2
- Write an article on latest tax changes for landlords. 597 18
- Corrupt Excel File 674 10
- Website costs (intangible assets) tax relief 348 4
- Is Xero payroll as rubbish as I suspect it is? 1,975 43
- Locked Out of HMRC Online Account - HMRC Not Responding 290 2
- Re-Training costs - tax reief 402 7
- Capital Gain on Share Disposal with Held Over Gains 165 1
- 64-8's amazingly quick 317 4
- last minute request 504 5
- VAT - Check on clients business 1,253 46