Relevant Life is the clever choice for life insurance protection for management and business owners.

As we have posted previously obtaining domestic life insurance is not the most Tax efficient protection mechanic for management; due to the impacts of Income Tax, National Insurance and the Limited Company can not get breaks versus Corporation Tax. However, if the Limited Company obtains the Relevant Life insurance protection we miss those levies ‘and’ reduces the Limited companies Corporation Tax bill!. Family would always be paid in the event of a life claim not company. 

Relevant Life Protection can go further than this tax efficient purchasing method too. If we were to pass away the Inheritance Tax teams will look at what potential Tax would be payable from the deceased Estate. THis monies would be paid by family in the event of passing. We all have a lifetime allowance which simply is the total of pension fund and life insurances (including corporate death in service protections). This limit is £1,073,100. If this amount is breached the Tax payable would be charged at 55%

Relevant Life does not form any of the lifetime allowance calculation and is except; meaning it can literally save hundreds of thousands for family just from the correct structure of the protection.

Golden Rock Solutions would welcome a discussion to see how we can help protect you, your family and your business in the most cost effective way for your needs