I'm thinking of getting a pretty comprehensive insurance for key personnel in my Ltd.
How is this treated tax-wise? As far as I can see the premium would be paid from the Ltd account, but any eventual payoffs would go directly to the beneficiary, so a BIK in my view?
Are there any insurance policies that protect a business, rather than a person?
I am specifically thinking of a scenario, where Ltd is unable to trade as key personnel is ill.
How is this treated tax-wise? As far as I can see the premium would be paid from the Ltd account, but any eventual payoffs would go directly to the beneficiary, so a BIK in my view?
Are there any insurance policies that protect a business, rather than a person?
I am specifically thinking of a scenario, where Ltd is unable to trade as key personnel is ill.
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