For anyone closing their limited company, what run-off type tax protection / IR35 insurance is recommended and for how long?
I’ve been a member of IPSE for a while and they seem to have changed the run-off options. Previously I think they provided cover for £50 for 1 year after closing your company.
Now they are ‘offering’ something called ‘Safeguard membership’ which is much more expensive:
- 6 months cover, £80
- 12 months cover, £140
- 18 months cover, £200
I think this might be limited to 18 months only as well, so doesn’t give full piece of mind about any potential retrospective investigation.
Another option I’ve found is Caunce O’Hara who offer ‘Tax Enquiry and Legal Expenses Insurance’, which is also through Markel Tax (same as IPSE). This apparently only costs £35 p.a. and can be kept as long as you like.
I’m basically looking for the same level of cover you can get on the IPSE Plus membership, but without all the bells and whistles.
Are these 2 options effectively giving the same level of cover, but with obvious differences in price and potential cover length?
Any better and/or cheaper alternatives to these 2 options, e.g. by going direct to Markel?
I’ve been a member of IPSE for a while and they seem to have changed the run-off options. Previously I think they provided cover for £50 for 1 year after closing your company.
Now they are ‘offering’ something called ‘Safeguard membership’ which is much more expensive:
- 6 months cover, £80
- 12 months cover, £140
- 18 months cover, £200
I think this might be limited to 18 months only as well, so doesn’t give full piece of mind about any potential retrospective investigation.
Another option I’ve found is Caunce O’Hara who offer ‘Tax Enquiry and Legal Expenses Insurance’, which is also through Markel Tax (same as IPSE). This apparently only costs £35 p.a. and can be kept as long as you like.
I’m basically looking for the same level of cover you can get on the IPSE Plus membership, but without all the bells and whistles.
Are these 2 options effectively giving the same level of cover, but with obvious differences in price and potential cover length?
Any better and/or cheaper alternatives to these 2 options, e.g. by going direct to Markel?
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