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Indemnity Insurance -P11d

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If a company pays for a medical indemnity policy each year for one of its employees, should this be reported on a P11d? Even if this is tax deductible from the employees point of view?

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By David Ex
01st Sep 2021 11:28

What is a “medical indemnity policy” and why is it “tax deductible from the employees point of view”?

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By McLarenLad
01st Sep 2021 11:37

From my understanding, it's a mandatory insurance for medical practitioners to have, to ensure they are adequately covered against malpractice/negligence.

The confusing part is, the company needs to increase their existing cover, based on the clients they are practicing on.

The way I understand it is, the cover they've bought personally is tax deductible, yet the increased cover the company has to pay for, becomes a taxable benefit for the employee and therefore declared on a P11d?

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By David Ex
01st Sep 2021 11:54

OK, so we’re talking about a medical practitioner. I suspect there are some nuances in the expenses incurred.

I’m slightly confused over whose liability exposure is being insured. If the doctor is offering services via a company, is the doctor personally liable for negligence, etc.? Is the doctor an employee of the company? Does he/she own the company?

Obviously in a normal company structure, an employee isn’t generally legally liable to customers of the company.

I suspect this is a question for someone who specialises in the medical profession.

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