Ron Wheatcroft: Group life admin cost "far outweighs any tax due"

On Friday, we reported that Group Risk Development (GRiD) is calling for Office of Tax Simplification to reduce costs for employers taking out group life assurance (GLA). Ron Wheatcroft, technical manager for Swiss Re - who helped contribute to GRiD's response - welcomed the OTS consultation, supports the call for GLA tax exemptions but also put forward that it should be extended to include relevant life policies too. "When a loved one dies, the family often needs money quickly to support them," he said. "In employer-sponsored schemes, this is achieved by setting up a discretionary tr...