Cover for tax investigation, facts?

[diesel]

[QUOTE=Qdos Consulting;664215]I think there is a third party property damage excess of £250 on the PL policy, but that's about it. If you are looking to buy all three give us a call and we can sort out a discount.

[QUOTE]


what sort of prices can you offer for all three?/

I renewed with the PSC Insurance for all 3 for £330, if you can do better or offer a better insurance package for around the same price you have gained my custom when current policy expires.

What is your phone no, so one can call to discuss the tax liability cover insurance?

[Qdos Contractor]

what sort of prices can you offer for all three?/

I renewed with the PSC Insurance for all 3 for £330, if you can do better or offer a better insurance package for around the same price you have gained my custom when current policy expires.

What is your phone no, so one can call to discuss the tax liability cover insurance?

If you are an IT contractor, standard EL/PL & PI policies would be a grand total of £224.50. Indemnity limits are £10m, £1m & £1m respectively.

[QwertyBerty]

Think I covered this particular question earlier in the thread, but just to reaffirm that we would never attempt to pull out of paying any claim.

But what if you discover the contractor had lied to you on your initial questionaire? You would then have grounds not to provide legal representation let alone pay his tax bill.

QB.

[Qdos Contractor]

But what if you discover the contractor had lied to you on your initial questionaire? You would then have grounds not to provide legal representation let alone pay his tax bill.

QB.

Well yes, but that's the same as any other risk assessed insurance policy. If there were any major and deliberate misrepresentations that would affect our chances of success we would probably pull out. This has never happened though and I doubt it ever will.

[Alan @ BroomeAffinity]

Qdos, earlier on in the thread there were comments made about how many contractors are refused cover on the basis of their working practices. Are you able to give us an idea?

[Qdos Contractor]

Qdos, earlier on in the thread there were comments made about how many contractors are refused cover on the basis of their working practices. Are you able to give us an idea?

Difficult to say. Most contractors who apply for TLC are relatively au fait with the legislation and therefore take steps improve their compliance prior to contacting us.

Probably around 1/4 of applicants cannot purchase cover for one reason or another. Of course, there are quite a few instances where one particular contract cannot be fully covered, but we can insure others that are compliant.

[diesel]

If you are an IT contractor, standard EL/PL & PI policies would be a grand total of £224.50. Indemnity limits are £10m, £1m & £1m respectively.

Phone number for the Freelancer department is 01455 852030.

Nope not in IT (sorry folks) but an design engineer.

[Alan @ BroomeAffinity]

Difficult to say. Most contractors who apply for TLC are relatively au fait with the legislation and therefore take steps improve their compliance prior to contacting us.

Probably around 1/4 of applicants cannot purchase cover for one reason or another. Of course, there are quite a few instances where one particular contract cannot be fully covered, but we can insure others that are compliant.

Thanks for that. Although I'm still not altogether convinced on the requirement for the cover, I can certainly appreciate the "peace of mind" aspect and for £300-odd thats probably not bad money. I know that some of my clients want some sort of cover anyway so I'll PM you and maybe we can arrange to have a chat?

[Qdos Contractor]

Thanks for that. Although I'm still not altogether convinced on the requirement for the cover, I can certainly appreciate the "peace of mind" aspect and for £300-odd thats probably not bad money. I know that some of my clients want some sort of cover anyway so I'll PM you and maybe we can arrange to have a chat?

Please do.

[BolshieBastard]

OK I've read through the QDOS questions re TLC and I appear able to tick most of the boxes. I have a couple of questions I cant find answers to on this thread. Apologies if they are!

1, does the TLC cover my accountants cost in any IR35 investigation, if yes, up to what amount?

2, I dont currently have Prof Insurance (although have in the past), if I dont renew this is it a 'fail' for TLC?

3, Must Prof Insurance be taken out before TLC can be accepted, assuming other questions are answered such as to qualify for TLC?