Autonomous and safe form a fundamental binomial. The very nature of the activities of the self-employed person makes the protection and security offered by insurance more important both for present contingencies and for preventing and preparing future needs.

Faced with all the advantages, the main handicap of the autonomous is in its own economy. Without having fixed income, paying their own contributions (which in 85% of cases is the minimum), insurance is often considered as an additional expense, when it is not, it is a tool that allows us to gain in security and protects us in our daily work. But, in addition, many are unaware that all or part of the amount we pay for insurance for a self-employed person can be deductible in the Income Statement, provided that some requirements are met and with limits that we now explain.

Health and life insurance

Health insurance is one of the most important for the self-employed. Health insurance allows us to have the best care, access diagnostic tests or specialists more quickly with which to return to work activity beforehand and helps us improve the prevention of health problems.

All these advantages have another economic one. The self-employed can be deducted for the amounts they pay to their Health insurance, including the amounts paid by their spouse and children under 25 years, up to a maximum of 500 euros per year per person. This amount rises to 1,500 euros for each of them when they are people with disabilities.

Amounts paid during the year as fees to mutual funds

To this amount we must add possible regional deductions. For the 2018 income statement, for example, Cantabria allows it to be deductible in the regional tranche of the tax of 5% of the amounts paid during the year as fees to mutual funds or non-mandatory medical insurance companies, both own and the people included in the family minimum.

To this we must add insurance as important as life insurance . Since the last tax reform, it is also deductible in the Income for life insurance that covers death and disability. The maximum amount that can be deducted for this insurance for freelancers is also 500 euros per year, but this limit also includes Health Insurance.

Other insurance

Being both fundamental insurances, they are not the only deductibles. You can also include those inherent in the professional or business activity carried out by the freelancer. For example, if you have a vehicle for your professional work you can include your insurance, as with other property insurance that you use for your work such as a computer.

Also, if you rent an office for your professional activity, 100% of this insurance can be deducted. A special case is home insurance if you work at home. In this case you can only deduct for the proportional part of the property you use.

Finally, civil liability insurance linked to your professional activity is also deductible as an expense of your activity.