Tax dedction for self-employed accident insurance

Graham_07

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Hope this is right forum, question is can one claim an income tax deduction against sole-trader income for insurance payments made to accident & sickness policies, e.g. CICE ones. The person involved is paying quite an amount annually on policies covering accident or sickness. They are self-employed and the policies would cover an amount of income while out of work or hositalised as a result of accident or sickness (whether or not caused at their self-employment ). None of the policies are "permanent health" type.
 
If it is an 'Income Protection' type policy then yes, it is allowable against tax deductions for a sole trader.
 
Yes, the policies are designed to give an income of so much a week while off work through accident or sickness whether casued at work or not
Thanks for that.
 
I would double check with your accountant to be sure but I recently had a meeting with my Financial Advisor who told me my Income Protection policy was tax deductible. It is set-up for similar reasons you mention.
 
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