income protection

Personal tax deductions – are there any left?

Personal tax deductions – are there any left? If you are on a PAYE salary, the number of expenses you can claim is rather limited but there are still some that are worthwhile. Accounting fees The fees charged for preparing your personal return are fully deductible. Donations A donation to a charity is deductible. You …

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Are income protection premiums deductible?

The short answer is no. Not all business insurance premiums are deductible and the area is complex as every policy seems to differ. In general the following rules apply:Personal Illness and Accident Insurance The premiums are not deductible. The good news is that any income (or proceeds) paid out isn’t taxable either. These payments are called “exempt …

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