IR35 Indemnity (private sector)

[ihatework]

Hi, long time contractor but new poster here.
I'm getting to the stage whereby I think it would be wise to take out some sort of IR35 Indemnity policy.
I work private sector and try to mitigate my IR35 as much as possible, just feeling a little 'twitchy' at the moment.

I'd be looking for the type of policy whereby after review of the contractors situation/contracts a company essentially commits to paying any defence costs and also if the outcome is negative to the contractor will fund the difference between tax paid under Ltd company and whatever oh HRMC deem payable under whatever regulation they decide is effective at the time.

So any company suggestions?
Any specific small print I should be looking out for?

Many thanks

[northernladuk]

It won't cover you historically so really you should have had it from day one. IPSE+ membership gives you this or you could look at QDOS TLC35. The differences between the two have been discussed many times on here so if you use the search method below for the details. IPSE+ is a no brainer even ignoring the protection IMO.

The best search method is explained here.

http://forums.contractoruk.com/showthread.php?t=58311

[malvolio]

Join IPSE+ anyway for the safety net they provide, but look at Survive35 through IPSE's membership. Same basic deal as TLC35 but with a slightly wider remit.

Whether or not you need that cover, given they are basically insuring their own opinion being wrong, and whether or not that cover will work if the PS rules move across to the private sector and you then get pulled inside IR35 without anything else changing is a moot point... Personally I wouldn't bother with the extra insurance until the world becomes a lot clearer. (Actually I wouldn't anyway, but that's just me)

[Scruff]

I would recommend having IPSE+ and in addition QDOS TLC35. I have that combination, and there are referral codes in my signature