Relevant Life is a life insurance policy available to employers to provide an individual death-in-service benefit for an employee.
The tax advantages for an Employer is corporation tax relief (as long as premiums are wholly and exclusively for purpose of business) and there is no national insurance contribution to pay on policy payments
The tax advantages for an Employee is that there are no national insurance contribution to pay on the policy, the policy isn’t taxed as a benefit in kind and the policy payments do not count towards annual or lifetime pension allowance.
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