IR35 - do you pay for it and what level of cover

[psychocandy]

I really love it when people don't listen.

More than £220 a year, just for insurance. That you don't need and will never claim against. Why is that so hard to understand?

You wopn't get charged penalties if you have assessed your IR35 position, even if you got it wrong. AFAIK nobody has yet been charged the back taxes due under a lost IR35 case - but then there have only been half a dozen of them in the last 11 years. Of course, lots of dummies have accepted Hector's view without challenging it and paid up, but that's not covered anyway.

Oh and by the way, the cover you get from PCG is though Abbey. And you can then get a signficant discount on survive35 if you really, really have to have it. Which you don't.

Yes, this is the way I see it too. Same for Section660.

[psychocandy]

If you think that there is no possibility of you failing an IR35 enquiry and having to pay the taxes/penalties then don't take out insurance against it. If you think that there is a possibility (however slim) then you have to make your own call as to whether you take out insurance or whether you take the risk on yourself.

I personally don't see that my house burning down is more likely than me having to pay back taxes/penalties because of IR35 - but that's my view of the situation. You have to work it out for yourself.

The AbbeyTax policy (survive35) is around £300 to £400 a year I think. You have to have PCGPlus already in order to take it out and you have to pay AbbeyTax to review your contracts and you have to fill in their working practices questioniarre.

Hmmm. Abbey Tax want £195+VAT to review your contract to see if they'll cover you.

QDOS offer this for free if you've already got one of their products (e.g. PI). Seems a bit excessive £195. I dont think so.

[contractoralan]

Hmmm. Abbey Tax want £195+VAT to review your contract to see if they'll cover you.

QDOS offer this for free if you've already got one of their products (e.g. PI). Seems a bit excessive £195. I dont think so.

Did you get your contract reviewed before you started the contract? They accept reviews done by certain providers [ B&C as an example]. Tell them who it was with.

[psychocandy]

Did you get your contract reviewed before you started the contract? They accept reviews done by certain providers [ B&C as an example]. Tell them who it was with.

It was reviewed by accountant before I started (although he turned out to be useless!). Also, since then I've had it reviewed by QDOS (and also done their IR35 questionaire)

[Mister Clark]

I'm starting to think HMR&C invented IR35 so they could get their hands on all the corporation tax, PAYE, VAT, Income tax and national insurance money all these contract review and insurance services produce.

And people accuse HMR&C of being inefficient.

[malvolio]

I'm starting to think HMR&C invented IR35 so they could get their hands on all the corporation tax, PAYE, VAT, Income tax and national insurance money all these contract review and insurance services produce.

And people accuse HMR&C of being inefficient.

I couldn't possibly comment. But look at the make up of the IR35 Forum and count how many of them have no financial interest in preserving IR35.

I make it just one...

[centurian]

I couldn't possibly comment. But look at the make up of the IR35 Forum and count how many of them have no financial interest in preserving IR35.

I make it just one...

WHS - turkeys don't vote for Christmas