FOR ADVISERS ONLY
Relevant life calculator
This calculator allows you to show your clients the difference in the gross cost of providing their life cover through a relevant life policy taken out by their employer compared to a policy they would take out themselves.
All you need to do is enter the premium and relevant tax rates and the calculator will provide the net costs.
Relevant life calculator
Is the premium paid from dividends
Is the person covered resident in Scotland
Premium
What is person covered's highest rate of tax
Company corporation tax rate
Employee income tax rate
Employee national insurance rate*
12
%
Employer national insurance rate
13.8
%
*assumes contracted in to
State Second Pension
Ordinary life policy
Employee gross salary increase
£0.00
Employee national insurance
£0.00
Employee Income Tax
£0.00
Employer National Insurance
£0.00
Corporation Tax relief
£0.00
Net Cost
£0.00
Gross dividend needed
£0.00
Corporation tax paid
£0.00
Gross profit to pay dividend
£0.00
Relevant life policy
Corporation Tax relief
£0.00
Net Cost
£0.00