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Medical insurance

Medical insurance (e.g. WPA, BUPA) is an allowable business expense however as it has a real value to the employees and directors it is taxed as a benefit in kind, with the company paying National Insurance Contributions of 13.80% on the cost. Ensure the policy is in the company name otherwise further tax will be due.

Take a look at Private Medical Insurance in 123 Extra.

Disclaimer:

This information is for general information only. We take no responsibility for any action taken or refrained from in consequence of its contents. Always seek our professional advice specific to your circumstances before acting.