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Directors Life insurance P11d

Directors Life insurance being paid for by the company, policy in directors sole name

The director of a limited company we act for has set up some life insurance and started paying it through the company bank account. Initially I thought that this was just a straightforward P11d as the beneficiary was not the company. However, after getting the details of the insurance policy the policy holder is the director individually, my initial thoughts are that the in this instance the company cannot claim the CT deduction and it should be processed as a DLA payment. Is this correct?

 

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