Insuring against Investigations

[Goya]

Also note the PCG covers you for all contracts within the one subscription. Some of the others used to be on a contract by contract basis, so you need to keep them up for 6 years after you finish and I don't know if that still applies.

I'm signed up to the PCG plus package. If I stop contracting, is it still prudent to keep this going for a while (6 years?) to cover any investigations that may take place in the future (investigating the contract I have now)?

[XLMonkey]

No need, the insurance covers you even if the claim occurs after you have stopped, provided that you were insured whilst you were contracting

[Diestl]

Beautiful!

[Goya]

No need, the insurance covers you even if the claim occurs after you have stopped, provided that you were insured whilst you were contracting

Excellent! Cheers.

[xoggoth]

Are you sure? Haven't got it with me but sure QDOS's FAIR35 covers investigations begun during the period of insurance. The fact that the IR may look at contracts before insurance has nothing to do with it. This is the usual basis for any type of insurance.

[XLMonkey]

Argh!!

you're right, I was reading the wrong bit of the FAQs at the time, the insurance stops as soon as you stop paying for it....

Damn, that puts the kibosh on one of my plans. Sorry

[ChimpMaster]

I've been contracting for nearly 3 years... I want to be covered for the past 3 years too but would Qdos or PCG do that if I started insurance with them now?

[malvolio]

PCG would. The only constraint is that you are not covered for an investigation that has already started when you joined.

No idea about QDOS these days, but a while back the answer would have been no.

[chubba]

What about the FSB? Had a visit from one of their salesmen the other day - it costs £100 to join and you automatically get investigation insurance. Other benefits were good to so am seriously considering signing up. Anyone got any experience?

As well as the insurance the 7 day business account looked good and the legal helpline looked worth the £100 to me.