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Potential tax advantages of a medical benefit trust to employers and their employees.
KEY POINTS
- The substantial increase in insurance premium tax in November 2015 is likely to be passed on to consumers.
- The advantages of self-insurance and its implementation in a medical benefit trust.
- Structure will be important to maximising VAT recovery as in CCE v Redrow Group plc.
- The employee’s taxable benefit should be the right to cover rather than the cost of individual treatment.
- The disguised remuneration rules should not apply because ITEPA 2003 s 554A(1)(e) is not satisfied.
- Potential inheritance tax problems for close companies or where employees contribute to the cost.
When David Cameron vowed not to increase income tax National Insurance contributions or VAT in this parliament it was inevitable that the chancellor was going to have...
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