Tax relief on income protection policy

N

Neil_Ireland

Registered User
Messages
189
Is it true you can claim tax relief on income protection insurance policies?
The broker mentioned I could claim back 41% of my payments at the end of the tax year.

Thanks,
Neil.
 
As Norf said, yes you can. When I asked for an IC policy quote a few weeks back the relief was built into the quote.
 
I got a quote of 45 euro plus change for income protection, the broker said this price was before tax relief.
 
Yes you are entitled to tax relief. If you are a company director you can have the company pay the premiums on your behalf (the company will get tax relief and then offset the balance against corporation tax). This will not attract BIK taxation.
 
Your premiums qualify for tax relief at your marginal rate to a maximum of 10% of total salary.
 
Also, if you take out the income protection through your own account dont forget to claim back the tax relief. You would be surprised the amount of people whom I see dont claim tax on pensions and these kind of policies.

Dont assume you are getting tax relief (like many people get their mortgage relief from straight from the mortgage lenders).
 
Hi all,

Had a look at Revenue Website and I dont see a form for claiming this back?
I also have a ROS account and didnt see a facility to claim back through this either?

Can anyone point me in the right direction?

Thanks,

T
 
Does anyone know if you work in Ni and live in ROi which country do you apply for an income protection policy?
 
You must log in or register to reply here.
Back
Top