Originally posted by Qdos Consulting
View Post
- Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
- Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!
Legality of tax insurance
Collapse
X
-
Free advice and opinions - refunds are available if you are not 100% satisfied. -
Very helpful discussion
Cheers guys, especially Lisa and Qdos.
I think my mate may not have realised this wasn't a criminal matter, or taken account of the conditions Qdos Consulting mentioned. As I said, he is pretty knowledgeable about insurance generally but this area is not one he has experience of.
I still don't look forward to that inevitable envelope landing on my doorstep but I am somewhat reassured.
Am sure it's been said many times many ways but what I despise most about IR35 is the greyness of it and the atmosphere of fear, uncertainty and doubt that goes with it.Comment
-
Originally posted by Wanderer View PostCan you give us a real world example of a case (anonymised of course) of where you have paid out? Or has this never happened?
Thats why the insurance is relatively cheap. The chances of a claim are low - and they don't offer cover to the really high risk ones. If they lose a case, I would fully expect them to cough up.
Of course if they start losing a succession of cases - and end up having multiple 6-figure payouts, expect their underwriters to demand significantly higher renewal premiums, or pull the plug completely on the product - which leaves people exposed for 5 years as the cover is only for investigations initiated in the 1 year you have the policy, not the following 5 years.Comment
-
Out of the 1,300+ cases we've dealt with we've only lost about 5 and none of them had the full TLC35 insurance. This has only been down to the skill and experience of our consultants; the cases we have won certainly haven't been easy (as numerous clients will testify).
When we designed the product we certainly didn't expect to maintain a claim-free record on the liability part of the insurance and, assuming HMRC plough resources back into IR35 once the review is complete, I doubt the record will stay intact. This is something both Qdos and our underwriters appreciate.
For the avoidance of doubt, we have never rejected a TLC claim or pulled out of covering a case. We actually like dealing with IR35 enquiries.Qdos Contractor - IR35 expertsComment
-
Some good insight from QDOS here on their policy. I havent taken it out yet but I think I will do soon,Rhyddid i lofnod psychocandy!!!!Comment
-
I should say, as I kind of panned the TLC product, in the interest of balance, the TaxWise product is exceptional. So far I have only had to make a couple of small claims and all were paid without any problem and the panel of experts you can call on really are very good.Comment
-
Originally posted by Qdos Consulting View PostWe actually like dealing with IR35 enquiries.Comment
- Home
- News & Features
- First Timers
- IR35 / S660 / BN66
- Employee Benefit Trusts
- Agency Workers Regulations
- MSC Legislation
- Limited Companies
- Dividends
- Umbrella Company
- VAT / Flat Rate VAT
- Job News & Guides
- Money News & Guides
- Guide to Contracts
- Successful Contracting
- Contracting Overseas
- Contractor Calculators
- MVL
- Contractor Expenses
Advertisers
Contractor Services
CUK News
- Streamline Your Retirement with iSIPP: A Solution for Contractor Pensions Sep 1 09:13
- Making the most of pension lump sums: overview for contractors Sep 1 08:36
- Umbrella company tribunal cases are opening up; are your wages subject to unlawful deductions, too? Aug 31 08:38
- Contractors, relabelling 'labour' as 'services' to appear 'fully contracted out' won't dupe IR35 inspectors Aug 31 08:30
- How often does HMRC check tax returns? Aug 30 08:27
- Work-life balance as an IT contractor: 5 top tips from a tech recruiter Aug 30 08:20
- Autumn Statement 2023 tipped to prioritise mental health, in a boost for UK workplaces Aug 29 08:33
- Final reminder for contractors to respond to the umbrella consultation (closing today) Aug 29 08:09
- Top 5 most in demand cyber security contract roles Aug 25 08:38
- Changes to the right to request flexible working are incoming, but how will contractors be affected? Aug 24 08:25
Comment