Please is it right to include long term disability insurance for directors/members in their total remuneration or should be classed as insurance?
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Who will benefit from a payout from the policy is it the Company or is it the individual?
the individual
It’s a benefit for the director then. Not sure where in the P&L it would be disclosed. I assume it’s not a material amount.
www.gov.uk/hmrc-internal-manuals/business-income-manual/bim45525
If the insurance is taken out by the Company on behalf of the employees then the company can deduct the cost on the P&L but it goes onto the P11D of the employees it isn't included on their payslips.
".. it goes onto the P11D of the employees it isn't included on their payslips."
That's one correct way to deal with it ... or the company can elect (prior to the start of the tax year) to process such BiKs through the payroll (known as 'payrolling of benefits') - in which case it will appear on the payslip, and a P11D will not be needed.