Relevant Life Plan

Best Life Insurance UK

Are you a director looking for a tax-efficient way to structure your life cover? We are able to give you access to a Relevant Life Plan which could be the perfect choice.

The plan works by the business paying into the plan on behalf of the individual. If claimed, money would be paid into a separate discretionary trust with the aim to support the individuals family if the individual has passed away.

Particularly viable for small companies with few members of staff, it may also a good option for company directors or high earners with large pensions who wouldn’t want deductions from their lifetime personal allowance if they were to pass away during their employment.

These benefits are not judged to be a benefit in kind because contributions are paid directly by the company. Moreover, payments are normally passable business expenses for the company.

The levels and bases of taxation, and reliefs from taxation, can change at any time. The value of any tax relief depends on individual circumstances.

Trusts are not regulated by the Financial Conduct Authority.