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Good Afternoon, Client is a 100% shareholder/director of a limited company. The company took out a commercial loan which required the director to take out a keyman life policy for a specified amount. In the event of the director/shareholder’s death the policy will pay out to the bank loan against the loan. Are the annual premiums which are paid by the company allowable for tax deduction purposes? Thank you.

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Asked on 11 February 2019 12:49 pm