Hi I am the director employee of a PVT Ltd company!
VHI insurance premium is coming around 2196 pa for my family. Please can anyone help me to know if the company can pay this premium? Is it deductible from corporation tax / VAT?
Company can pay the premium but you need to gross it up (as the premium is net of tax credit at source) and treat the gross premium as a BIK.
As the premium paid is net the company will have to gross the premiums paid up in your trading accounts and pay the tax due as income tax by the due date.
At the end of the year remember to include the gross premium on your tax return as you will get a reduction in your total tax liability equal to the tax credit.