E ellejay 30th Apr, 2014 #1 Hi Sorry if this is a silly question, or been covered before but is income protection insurance tax deductable? I'm pretty sure not but was discussing it today and just wanted to check if anyone knows. thanks!
Hi Sorry if this is a silly question, or been covered before but is income protection insurance tax deductable? I'm pretty sure not but was discussing it today and just wanted to check if anyone knows. thanks!
HD_ACE 30th Apr, 2014 #3 Yeap. But realise should you receive it under a claim, it will be taxed as normal income. Cheers
E ellejay 1st May, 2014 #4 Thanks for th replies, so seems its deductable but you obviously pay tax on any claims cheers
Paul@PFI 1st May, 2014 #5 Tip - Dont claim at "work related". It is claimed at deduction label D24 to avoid triggering a large deduction review. And a common question which follws is - can I avoid tax on a policy claim by not claiming the deduction? No.
Tip - Dont claim at "work related". It is claimed at deduction label D24 to avoid triggering a large deduction review. And a common question which follws is - can I avoid tax on a policy claim by not claiming the deduction? No.
