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PCG Insurance

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    PCG Insurance

    Does anyone know how much £1m Pro Indemnity cover and Public Liability cover through PCG costs...they will only provide a quote if you are already a member and I want to compare quotes for all services before joining.

    Cheers
    Property advisor for the people

    #2
    Yes thanks.







    Oh, I see. Assuming a routine IT contracting model, around £200-£240. Somewhere around par with market, maybe a little under. It's a member-only offer from the suppliers, not a PCG prodcut, which is why they won't quote you as a non-member. Without the PCG-package shared risk aspect and the discount, my cover would be around £450 btw, so I think it's worth it.

    But if you add up all the freebie member benefits you get from PCG membership and cost them separately you save around £1k a year. PCG is not just there as a money-saving exercise, join them anyway!
    Blog? What blog...?

    Comment


      #3
      is it worth joining pcg plus or pcg standard is enough?

      Comment


        #4
        I found that Hiscox was cheaper than going through PCG though PCG membership is worth having for the IR35 insurance, or thats what I keep getting told.
        Science isn't about why, it's about why not. You ask: why is so much of our science dangerous? I say: why not marry safe science if you love it so much. In fact, why not invent a special safety door that won't hit you in the butt on the way out, because you are fired. - Cave Johnson

        Comment


          #5
          Originally posted by andy
          is it worth joining pcg plus or pcg standard is enough?
          PCG is more then enough for most purposes, but the big benefitit of PCGPLus is that you get representation for a PAYE inquiry; normal membership only covers IR35 investigations. The point is that PAYE ones are the starter for 10 and can turn into an IR35 oneand you head them off at the first hurdle and save three years or more of grief and paperwork. Jury Service cover (free!!!) is worth having as well.

          Originally posted by gingerjedi
          I found that Hiscox was cheaper than going through PCG though PCG membership is worth having for the IR35 insurance, or thats what I keep getting told.
          Hiscox is about the same if you compare like-for-like, maybe a little cheaper, but it is really peanuts over the year, especially since it is a CT-deductible cost.

          FFS just join the PCG, the more members they have the more resources they can call on and the more they will acheive for all of us.
          Blog? What blog...?

          Comment


            #6
            as far as I can see PCG plus for £260 only covers the costs for a PAYE audit/invest, jury service and Prof. Expenses Insur. (£75K prof. fees) relating to tax investigations (IR35, S6660A, PAYE, VAT etc).

            You then have to pay for Prof. indemnity insurance and public/private liability insurance. However, if you loss the IR35 case you are not covered for the tax and penalties.

            Sounds to me like it doesn't cover you for much.

            Surely QDOS's cover is better:
            prof. indemnity = £150
            public and private employers liabilty insurance (if req.) = £52.5
            tax protection (PAYE) = £99
            TLC35 Insurance (Prof. fees + tax, nic, interest and penalties) = £325.00

            Total £626

            Does this not make more sense??????
            I've been reading this stuff for days - yes using the search function etc. and I'm still confused.

            Comment


              #7
              Originally posted by TheRightStuff
              as far as I can see PCG plus for £260 only covers the costs for a PAYE audit/invest, jury service and Prof. Expenses Insur. (£75K prof. fees) relating to tax investigations (IR35, S6660A, PAYE, VAT etc).

              You then have to pay for Prof. indemnity insurance and public/private liability insurance. However, if you loss the IR35 case you are not covered for the tax and penalties.

              Sounds to me like it doesn't cover you for much.

              Surely QDOS's cover is better:
              prof. indemnity = £150
              public and private employers liabilty insurance (if req.) = £52.5
              tax protection (PAYE) = £99
              TLC35 Insurance (Prof. fees + tax, nic, interest and penalties) = £325.00

              Total £626

              Does this not make more sense??????
              I've been reading this stuff for days - yes using the search function etc. and I'm still confused.

              QDOS TLC35 includes everything in QDOS Freelancer Tax Protection. If you get both you are buying the same thing twice. (Except TLC35 doesn't get you QDOS Club membership (£40) which you get with FTP). You want TLC35 + Club Membership OR just Tax Protection depending upon if you want to be covered to Tax Loss/Interest/Penalties or not.

              Comment


                #8
                I've answereed that as well in recent weeks. I wish people would pay attention

                The point of PCG membership is to know when you are or aren't inside IR35. If you aren't, you will win your case using the professional representation provided by your PEI cover so no tax or penaltes will be due. So why insure for them.

                If you go with QDOS, for example, they will insure you if they are sure you're outside IR35, and not if you aren't. So again, what tax and penalties are you insuring against, since they're saying there won't be any.

                Plus PCG insurance is for all contracts, not just those you have had reviewed.
                As for PI/PLI/ELI, I have yet to see anyone in a standard IT role come up with a cheaper quote than Randell Dorling using the PCG discount for the same coverage.
                Blog? What blog...?

                Comment


                  #9
                  Originally posted by Lewis
                  QDOS TLC35 includes everything in QDOS Freelancer Tax Protection. If you get both you are buying the same thing twice. (Except TLC35 doesn't get you QDOS Club membership (£40) which you get with FTP). You want TLC35 + Club Membership OR just Tax Protection depending upon if you want to be covered to Tax Loss/Interest/Penalties or not.
                  Just called Qdos and I made a mistake. All I need from them is Prof. Ind. (£150), public liability not employers (£52.5) and TLC 35 Insurance (£325).

                  Total = 527.5.

                  I bet molivio will be impressed that I've done some research. Lets have a look and see if he's going to have a moan in this post about seaching etc.

                  Comment


                    #10
                    Originally posted by malvolio
                    I've answereed that as well in recent weeks. I wish people would pay attention

                    The point of PCG membership is to know when you are or aren't inside IR35. If you aren't, you will win your case using the professional representation provided by your PEI cover so no tax or penaltes will be due. So why insure for them.

                    If you go with QDOS, for example, they will insure you if they are sure you're outside IR35, and not if you aren't. So again, what tax and penalties are you insuring against, since they're saying there won't be any.

                    Plus PCG insurance is for all contracts, not just those you have had reviewed.
                    As for PI/PLI/ELI, I have yet to see anyone in a standard IT role come up with a cheaper quote than Randell Dorling using the PCG discount for the same coverage.
                    That didn't take long.
                    So are PCG the inland revenue? Just because they believe your not inside IR35 doesn't mean the IR will agree. Is it not best to have cover for a contract QDOS believe is outside IR35 but just in case you still have all the other costs covered. For a few quid more that makes more sense too me.
                    Correct me if I'm wrong. I'm sure you will.

                    Comment

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