The Practical Guide to Limited Company Tax
If you have chosen to operate your business as a limited com...
By Jonathan London on 22nd June 2015
A new system of flexible benefits aimed specifically at self-employed people has been introduced by the Association of Independent Professionals and the Self-Employed (IPSE).
The new pension, life assurance and private medical healthcare schemes under the IPSE Futures banner have been designed with the UK’s 4.5 million self-employed people in mind and are available at group rates, thus offering substantial savings compared to the fees charged to individuals.
With the IPSE Pensions scheme, delivered in partnership with Aegon, freelancers will receive a negotiated charge of 0.42 per cent, while offering greater flexibility and the ability to bring their savings together in one place.
A range of other product wrappers will also be available, including an ISA and a general-purpose investment account.
Meanwhile, the IPSE Life Assurance offer is delivered by Legal & General and offers benefits such as simplified medical underwriting and cover available from £50,000 to £250,000, with all IPSE Plus members automatically receiving £5,000 in life assurance cover as part of their Plus membership.
Finally, the private medical insurance offer with Mercer aims to provide access to discounted rates, specialist help and advice, and coverage that may not exclude previous medical conditions, as well as other flexible benefits to be introduced in the coming months.
Chris Bryce, chief executive of IPSE, said: “IPSE Futures means IPSE members are able to pay life assurance premiums and, in many cases, make pension contributions from their limited companies entirely tax-free, and with no benefit-in-kind charges.
“With very low charges across a range of benefit schemes, IPSE Futures makes getting ready for tomorrow just that little bit easier for the growing number of brave and hardworking self-employed people in the UK.”
The IPSE is the largest association of independent professionals in the EU, representing more than 67,000 freelancers, contractors and consultants from every sector of the economy.
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