Premiums for Business Protection are usually paid for by the business. The tax treatment depends on the type of policy so it’s best to seek advice from your Accountant.

There are also some policies which are treated as employee benefits.

Namely these are –

• Relevant Life Plans (Life Cover)
• Executive Income Protection (Sick Pay)

Premiums for these policies are paid for by the business and are usually  

• Completely Tax Deductible for the company 
• Not treated as a P11D Benefit in Kind for the employee. 

As these products are available to salaried employees, in many cases this can include the Business Owners themselves.

This could therefore provide a tax efficient way for Business Owners to protect their income and their families without affecting their personal disposable income.