Composites GIANT IR35 Investigations

[CheesyNob]

If you read the detail of the insurance its not that great, only covers you for tax and not NI. Most of savings you make with GIANT Power House are on NI, so the insurance will cover you for the tax but not the bulk of the money you will owe on NI if the rev fail you, also it only covers me up to 2007.

Plus I had my current contract reviewed by a well respected Accountancy / Law firm and it failed, don't think it would stand much chance either if IR came to have a look.

[Mordac]

So you're paying a shoddy outfit for some worthless insurance. The question you should be asking is "can anyone suggest a way out of this mess?" instead of inviting Spoddy outside for a spot of fisticuffs.

[planetit]

That’s interesting Cheesy,
On their web site it says “you receive – at no extra cost – GIANT CARDS IR35 Insurance cover worth up to £50,000 of professional fees, plus any tax, national insurance, penalties or interest imposed by the Inland Revenue should your contract fail IR35 after all.” On a later page it doesn’t mention NI. Are they misleading people? Wouldn’t surprise me.

[CheesyNob]

I am getting away from GIANT asap. move already well in progress.

The insurance is QDOS by the way, in the cover letter it only states Tax liability, and I don't see NI at tax but NI.

This is what it says on its Web site, no mention of NI.

"Compensation to cover you against tax, interest and penalties if the case is lost (this compensation will more than cover your full potential liability) Hence NO financial risk to you. "

It might come to bit them on the bum though, as reading some of the article on composites on the IR site it says in the first instance they will try and re-corp the NI from GIANT themselves.

[xoggoth]

A knob/spod fight? Excellent. Was it you once said you were 6' 8" spod or was that someone else? Bet you're only 5" 3" really.

[SupremeSpod]

Was it you once said you were 6' 8" spod or was that someone else? Bet you're only 5" 3" really.

Ask DodgyAgent!

[mr blobby]

I have checked with Giant Cards IR35 helpline and they have confirmed that where they say "Compensation to cover you against tax, interest and penalties if the case is lost (this compensation will cover your full potential liability)" they mean Tax and NI.

So no problems then - fully covered. Come on then Inland Revenue, bring it on. Where are you. Lets be havin you... :lol

[Vetran]

NI is revenue, NL redefined a few weeks ago.

[fiddleabout]

If Spod is 6 foot 8 he'd better watch himself with me - I'm about the right height to use his tackle as a punchbag.