INCOME TAX (WAR INSURANCE OF EMPLOYES).

HC Deb 14 June 1915 vol 72 cc489-90

27. Colonel RUTHERFORD

asked the Chancellor of the Exchequer if employers who have insured the lives of their employés (who have recently joined the Colours) solely for the benefit of the employés' relatives or dependants can deduct the premiums from their Income Tax return?

The CHANCELLOR of the EXCHEQUER (Mr. McKenna)

The Board of Inland Revenue will raise no objection if, in the circumstances described, the District Commissioners of Taxes treat the premiums as expenses of the business for the purpose of which the insured are employed.