August 10, 2018
Accountancy Expertise – here to answer your questions to help you run a successful business.
We'll be posting frequently asked questions and answers. Can’t find the answer to a question you're looking for? Get in touch at email@example.com one of our expert accountants will be happy to help. #AskTheAccountant
Question: I am considering taking out private medical insurance; would I be able to put this through the company?
Expert Answer: Yes the company can pay for the cost of the private medical insurance, however:
If you are a higher rate or highest rate taxpayer and would need to take extra dividends to pay the full cost personally instead, it can be marginally better to pay through your company since the dividend tax has been introduced. Check with your accountant first though.