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Health insurance as business expense

  • 29-04-2019 12:39pm
    #1
    Zander1983
    Registered Users, Registered Users 2 Posts: 149 ✭✭


    Im an IT contractor. I have a company and Im the only employee. Currently I pay my health insurance out of my wages (after tax). Could I put this as a business expense, just like companies do where they provide health insurance as a benefit on top of salary?


Comments

  • #2
    thegolfer
    Registered Users, Registered Users 2 Posts: 346 ✭✭thegolfer


    Zander1983 wrote: »
    Im an IT contractor. I have a company and Im the only employee. Currently I pay my health insurance out of my wages (after tax). Could I put this as a business expense, just like companies do where they provide health insurance as a benefit on top of salary?

    No point. You'll be taxed both ways. From the company perspective it'll be treated as a benefit in kind and you'll be taxed on this additional income.

    Companies do pay this as a business expense, but the employee has to be taxed on it.

    As a small benefit you can give yourself a voucher for Christmas worth 500 tax free for say the gym or golf club fees, but must be in voucher form, not cash.


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