If you are a company director and pay for your own life cover, getting your company to take out cover on your life could save you money. Relevant life policies are a way of providing highly tax efficient death in service benefits on an individual basis for you and your employees. You may already be paying for your personal life cover through your business, but it is likely these payments will be taxed as a benefit in kind. Relevant life policies avoid this.
The plan itself is established and paid for by the company on the life of the employee or director. Any benefits from the plan are paid to a discretionary trust. The beneficiaries of the trust will be the family members and dependants of the life assured.
Should you wish to find out more, please contact your Account Manager in the first instance and they will be happy to assist in making you an appointment with our specialist financial advice partners.
Self Assessment – Q & A
Self-assessments. We have all heard of them, you maybe even know what they are. However, here at QAccounting some of our most frequently asked questions are about self-assessments. So below we have outline some of the most common questions we get asked, and the answers we get so tired of giving… just kidding.
Setting Up a Limited Company – 5 Key Things to Consider
If you are looking at going self-employed, then setting up as a Limited Company (LTD) may be the best option for you.
The Benefits of Having an Online Accountant
Here at QAccounting we are part of one of the UK’s largest contractor service providers. We started operating over a decade ago (around the same time DFS started their first sale) and have been dedicated to serving self-employed professionals ever since. One of the perks of choosing and accountant like QAccounting is that we offer all of our accounting services online.