Tax and NIC Free Medical Benefits for You and Your Team | Reach Accounting Solutions

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Posted by karen on Monday, October 22, 2018

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Did you know that employers can provide team members who use VDUs (that’s computer screens to me and you) with eye tests and corrective treatment TAX AND NIC FREE?  Well they can and that includes you as an employee of your own company.

You can also offer annual health screening and medicals and up to £500 of recommended medical treatment as tax free benefits.  This is a great way to support your team’s wellbeing.

A Death In Service plan could be offered, which would financially benefit your team’s loved ones should they pass away while employed by you.

If you would also like some life cover, then as director of your own company you could take out a Relevant Life Insurance Policy.  This would be a policy taken out by the company and is a tax and National Insurance free benefit.  At the same time it is tax deductible for the company so is definitely worth investigating.

Benefits are a great way of rewarding your team, promoting their wellbeing and improving their level of engagement.

It’s important to look after your team as they are your most valuable asset!.

As always, there is “fine print” with these things, so feel free to get in touch with us to discuss it further. We’ll also be able to notify you of a whole range of other tax free benefits that you can supply to your team and benefit from yourself.