Hi all
So I have set up a Group/Business Medical Insurance via my Ltd Company.
Value is less then £50 a month so much cheaper then personal plan.
Accountant said I will need to fill in P11d but there should be no negative impact due to BIK.
They mentioned as the amount for the insurance over the year plus my salary does not go over £12,500 tax allowance that I pay no additional personal tax however my dividend allowance will be lowered by the amount for the insurance in total.
Does this seem correct for those who done this before?
Thanks
So I have set up a Group/Business Medical Insurance via my Ltd Company.
Value is less then £50 a month so much cheaper then personal plan.
Accountant said I will need to fill in P11d but there should be no negative impact due to BIK.
They mentioned as the amount for the insurance over the year plus my salary does not go over £12,500 tax allowance that I pay no additional personal tax however my dividend allowance will be lowered by the amount for the insurance in total.
Does this seem correct for those who done this before?
Thanks
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