Relevant Life tax calculator

For financial advisers only

Use our Relevant Life calculator to see the potential tax savings that can be made using a Relevant Life policy compared to a non-relevant life policy.

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Relevant Life tax calculator
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Relevant Life tax calculator

Results

Non-relevant life plan Relevant life plan
Cost to employee
Monthly policy payment 1000.00 N/A
Employee National Insurance (NI) 34.48 N/A
Employee tax 689.66 N/A
Cost to employer
Monthly policy payment N/A 1000.00
Employer National Insurance (NI) 237.93 N/A
Corporation tax relief -392.41 -200.00
Total monthly cost 769.66 800.00
Relevant Life monthly saving 769.66 or 49%

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We've assumed an employer NI rate of 13.8%. Correct as at March 2021. These figures are for illustrative purposes only. The employer should check the availability of corporation tax relief with their accountant, who may liaise with HM Revenue & Customs for confirmation. This information is based on our understanding of current legislation, taxation law and practice, which may change. The value of any tax relief depends on the individual circumstances of the investor.