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Cover for shareholder-employees

Workplace Cover is our standard cover for all shareholder-employees. Your non-PAYE shareholder-employees can manage their own levies by applying for CoverPlus Extra.

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    Standard cover for shareholder-employees

    Your business’ Workplace Cover automatically covers your shareholder-employees. They’ll get the same benefits under this cover as your regular employees. How we invoice you depends on how you pay them; PAYE shareholders are levied under your employer policy Workplace Cover.

    Find out more about Workplace Cover

    How we calculate your shareholder-employee levies

    Inland Revenue provides us with a summary of your shareholder remuneration information. We use this combined with your CU (what work you do and the industry you’re in) to calculate your levy. For many shareholders we also take into account the claims history of your business.

    Working out how much you need to pay

    How your claims history affects your levies

    Classification Unit (CU)

    A description of your business activity. This is based on your Business Industry Classification (BIC) code.

    Find your BIC code

    How we invoice you for shareholder-employees

    You’ll receive an invoice from us every year based on your non-PAYE shareholder remuneration filed with Inland Revenue. This invoice includes both your final levy and a provisional levy.

    The final invoice is an adjustment based on the shareholder earnings declared to Inland Revenue for the last financial year. It is less the amount previously charged on the provisional invoice. The provisional invoice is based on the shareholder earnings declared the year before, plus an adjustment for inflation. 

    When we invoice you througout July/August we’ll include the following levies for your non-PAYE shareholder-employees:

    PAYE shareholder-employees will be included in your regular Workplace Cover invoice. Deduct the Earners’ levy from your PAYE shareholder-employees’ income like you would for regular PAYE employees.

    Explaining your invoice

    Learn more about ways to pay your invoice:  

    Ways to pay levies 

    Let non-PAYE shareholder-employees manage their own levies

    Your non-PAYE shareholder-employees can choose to apply for CoverPlus Extra. This will let them choose how much of their income they want covered if they've had an accident and can't work. 

    Learn about CPX

    Last published: 30 June 2021