Question
Is it possible for a company director to claim private medical expenses against his Ltd Co where the medical cost directly relates to being unable to work as a result of not getting the medical attention?
For example, I suffer from arthritis in my hip joint as well as a couple of other joints. My hip is going to need resurfacing/replacing with artificial material at some point in future, and is already somewhat debilitating – I cannot stand for long periods on hard surfaces, e.g. concrete or steel decks, but is less painful while moving around. My business requires me to work exclusively in the above locations and I often need a chair. Since the nhs waiting list is a complete lottery as to when any operation needed can be carried out and in my experience is a very short notice arrangement, which could jeopardise contractural agreements, is there any possibility of having any required operation done privately where I can choose a specific date for the medical attention with the costs being borne by the business, as a pre-requisite of being able to conduct my business.
Answer
For the medial bills to be claimed from your limited company to apply you should have the relevant policies in place. With this being paid for by the limited company, it would be subject to corporation tax relief but on the other hand the income being claimed back would be subject to personal tax depending on which tax bracket you fall under. An option available to you here is to pay for the medical bill/treatment privately as there will be no overall tax benefit in having the company paying for the costs directly.
This answer was provided by QAccounting.
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