Renew IPSE membership?

[sfr]

Ive been a contractor from 2006-2015, and I am now permanent staff and have been for the past year. My ltd co is currently undergoing the latter stages of being closed down via an MVL.
Question is (and sorry if its ben asked before), my IPSE membership is up for renewal.

Do you guys think it would be a prudent move to continue cover even though I am no longer contracting and the company is not officially closed yet?

The MVL was started in August 2016 via a liquidator, and they intimated that it should be done and dusted by Jan/Feb 2017.

Cheers,

Simon

[northernladuk]

Personally I'd keep it going for another year just in case they decide to open an investigation sometime in the near future just to be sure. Smash the Advantages scheme and you could get most of your money back.

[ladymuck]

I agree. Keep it up until you're fully closed down.

Not at all saying this because I am intending to stand for the CC this year and will be looking for votes...

[SueEllen]

The advice I read was to keep it for a year. Though I've not heard personally of people being targeted in that year but then their is always a first time...

[malvolio]

The advice is linked to your SATR which will be submitted in the year after the year you close down and so may yet trigger an investigation. You can always drop to standard membership if you're currently on Plus, which will save some cash

[cojak]

I thought you had to keep it for six years from the point of your move to employment, to protect you from any IR35 enquiries?

[pr1]

I thought you had to keep it for six years from the point of your move to employment, to protect you from any IR35 enquiries?

Once HMRC have agreed to you closing your company you're pretty much safe, in theory they could resurrect it to open an IR35 enquiry but AFAIK it's never happened (according to some seminar I went to)

[eek]

Once HMRC have agreed to you closing your company you're pretty much safe, in theory they could resurrect it to open an IR35 enquiry but AFAIK it's never happened (according to some seminar I went to)

+1. In the same way that referring to IPSE for a proper response to avoid incriminating yourself means HMRC skips you and moves to the next target, closing the company means HMRC skips and moves to the next easier target....

Yep they could reopen the company and start things off but there are far cheaper and easier targets for them to move on to...

[Fred Bloggs]

Generally a good idea to renew, but in your circumstances I'd look at the maximum downside possible of an IR35 review from HMRC, work out your potential liability. Put any spare cash into your pension, that ring fences that money from IR35. Then ,weigh the liability against the vanishingly small risk of a HMRC review and against the cost of IPSE. It may not be great use of your money when looked at like that.

[Fred Bloggs]

I agree. Keep it up until you're fully closed down.

Not at all saying this because I am intending to stand for the CC this year and will be looking for votes...

What a shame. I always judged your posts to be considered, intelligent and usually good advice too. Have you had the lobotomy yet? Or is there still hope?