Health Insurance

[Wayne E Edge]

Can I run the above as business expense?

Cheers

[bogie]

Well I guess if you are the company owner paying an employee, it is an expense. If you are the employee, its a taxable benefit. So maybe you pay £2k as an expense and pay 40% tax on £2k as an employee....im sure an accountant will be along soon to advise

[Wayne E Edge]

Sorry, it's a bit vague. The insurance is for me. I'm 100% shareholder running a ltd company.

Cheers.

[KevinCamaroSS]

As the poster above said. It can be claimed by the company as an expense against tax, however, you, the individual will be taxed on it as a benefit.

[Wayne E Edge]

Ah OK, thanks. I wonder which way would work out the most beneficial...pay through private account or business. Is this a piece of string question?

[edc]

It would probably be cheaper overall if your other half has company paid for PHI and can add you on whether she pays the additional BIK or the premium uplift.

[Jockman]

The company pays for us and we pay a BIK. Extremely cheap for 3 brothers with 3 wives.

Not sure I would pay for it personally.