Group Risk Plan: Taxation

We would strongly advise that tax advice is taken before proceeding. However, the following may prove helpful.

• Typically, the need for the Plan for a special group of employees outweighs the tax issue.
• Check with tax advisors / department to determine whether or not the premium is deductable as a business expense. 
• Establish the tax implications for the employment in the country in which employee is resident.
• Understand the tax implications for the employee when the benefits from the Plan are received.
• The Group Risk Plan policyholder funds pay no Guernsey Tax and no Guernsey Tax is deducted from benefit payments.