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This calculator shows the potential saving your client could make when paying for their life cover through a
Relevant Life Plan compared to a non Relevant Life Plan.
Just enter your client's premium and relevant tax rates and the calculator will give you the tax-adjusted total cost and
potential saving.
Please complete all the fields below.
How much could a Relevant Life Plan save your client?
NON RELEVANT LIFE PLAN |
COST TO EMPLOYEE |
Monthly premium |
£0.00 |
|
Employee National Insurance contribution |
£0.00 |
|
Employee Income Tax |
£0.00 |
|
Employee Dividend Tax |
£0.00 |
|
Gross earnings needed |
£0.00 |
COST TO EMPLOYER |
Monthly premium |
N/A |
|
Employer National Insurance contribution |
£0.00 |
|
Total gross cost |
£0.00 |
|
Less Corporation Tax |
£0.00 |
|
Tax adjusted total cost |
£0.00 |
|
RELEVANT LIFE PLAN |
COST TO EMPLOYEE |
Monthly premium |
N/A |
|
Employee National Insurance contribution |
N/A |
|
Employee Income Tax |
N/A |
|
|
|
COST TO EMPLOYER |
Monthly premium |
£0.00 |
|
Employer National Insurance contribution |
N/A |
|
Total gross cost |
£0.00 |
|
Less Corporation Tax |
£0.00 |
|
Tax adjusted total cost |
£0.00 |
|
TOTAL SAVING BY USING A RELEVANT LIFE PLAN = £0.00
A SAVING OF 0.00%
These figures are for illustrative purposes only. Tax calculations are based on 2019/2020 tax bands and may change in the future. The information assumes that the same rate of income tax / National Insurance applies on to the relevant proportion of the premium and the same rate of dividend tax to the relevant proportion of the premium. It may be affected by individual circumstances.