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How Is Business Health Insurance Taxed?

I’m looking to set up Health Insurance for my employees, can you explain how this will be taxed?

Question asked by Sarah Wright

The premiums of a Business Health Insurance policy are paid for by the company with pre-tax profit. The policy is usually a business expense and is not liable for corporation tax.

However, it is a P11D/benefit in kind for the employee who receives the benefit. That means employers will need to fill out a P11D form to declare this benefit in kind to HMRC with employees being taxed accordingly.

Michael Barrow was absolutely awesome, professional and truly helpful all the way setting up our insurance policy, made it super easy to select the right one. Highly recommend him for everyone. Thank you so much for your hard work Michael.

Istvan Szabo
24/04/2019
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