QDOS IR35 insurance

[northernladuk]

Indeed, that was broadly my thought. I have house insurance, so why do I bother locking the door?

Erm, I hate to be a pedant but that's not quite the same. Not locking the door will invalidate your insurance. A better example is why would I not leave my keys and valuables in plain sight.

[smatty]

I took that to mean that they needed to be reviewed as well, but I guess it's changed this year.

It hasn't changed they'll cover the costs of representation but state they will only pay out on contracts they've actually seen and that are specifically mentioned in your policy documents.

Good job you mentioned as I've just spotted my current one isn't on my policy

[TheFaQQer]

It hasn't changed they'll cover the costs of representation but state they will only pay out on contracts they've actually seen and that are specifically mentioned in your policy documents.

You had to specify the contracts, but not have them reviewed. Now you don't even need to specify them anymore.

Hmmm - someone's not reading the policy correctly.

Good job you mentioned as I've just spotted my current one isn't on my policy

I missed one once, and they added it onto the policy with no problems. Since I always get them to review my contracts anyway, it was a no-brainer.

[centurian]

When you have an IR35 insurance with QDOS why should one bother to have new contracts reviewed?

Because of this thread - started by yours truly....

http://forums.contractoruk.com/accou...insurance.html

Okay, I concede that IR35 insurance is less liable to insurers refusing to pay out. However, there is nothing to stop them from refusing to offer a renewal after 1 year if the IR35 heat is turned up - remember that IR35 insurance only covers you for investigations started in the next year, not cover for the next 6 years for contracts you started during the period.

You are then left hanging for another 5 years for HMRC to investigate - and if you never bothered doing your due diligence in the first place.

[jamesbrown]

remember that IR35 insurance only covers you for investigations started in the next year, not cover for the next 6 years for contracts you started during the period.

I believe this is the model that QDOS adopts, i.e. coverage at the point a claim is made. However, this is not universal (e.g. check out the equivalent from Abbey Tax, which covers a specific contract/renewal, regardless of when an investigation is started).

[Zero Liability]

Qdos cover are willing to cover you without a contract review, but you do have to assent to IR35 positive propositions, like having a genuine ROS, to the best of your knowledge, to be covered. Accountax, on the other hand, require a review but I believe their cover is different in nature, covering the contract for its lifetime if it passes. It's worth getting a review to show you've done your due diligence.

[smatty]

Hmmm - someone's not reading the policy correctly.

To be fair the text is as your post still, doesn't say explicitly that they need to review only that you need to speak to them.

[malvolio]

I feel I just have to point out that all of the above merely makes PCG Plus membership and its unconditional coverage look even more attractive.

And that's not including all the other freebie benefits...

[TheFaQQer]

I feel I just have to point out that all of the above merely makes PCG Plus membership and its unconditional coverage look even more attractive.

If only you were comparing like with like.

[northernladuk]

If only you were comparing like with like.

Oh noooooo! Don't try and hint to Mal that Insurance and PCG membership are like for like