FileTravel not offerring insurance

[FiveTimes]

Morning all,
Just a quick question to those more experienced than myself. I have my Ltd setup with filetravel and I am due to start trading through it in a couple of days.

I have just received an email from FileTravel saying they can't offer insurance anymore. Now I might be paranoid, but should I start to get a little worried and look for a local accountant to aid and assist myself with the running of my company ?

[freakydancer]

Morning all,
Just a quick question to those more experienced than myself. I have my Ltd setup with filetravel and I am due to start trading through it in a couple of days.

I have just received an email from FileTravel saying they can't offer insurance anymore. Now I might be paranoid, but should I start to get a little worried and look for a local accountant to aid and assist myself with the running of my company ?

Dunno what filetravel is but definitely get an accountant.

[jools]

I am using them as well and you have got me worried

Do I need insurance

[Sockpuppet]

No or yes.

Depends on what type of insurance and what your contract says.

[beerbarrel]

Filetravel was an MSC - leave immediately

[FiveTimes]

Filetravel was an MSC - leave immediately

Correct beerbarrel - FileTravel was an MSC provider and they have re-branded themselves as FileTravel Accountants... I am just getting quotes for accountancy fees from local providers and once that is complete I will be on my bike. I will also be hold back my invoices for this week and next until I get something sorted.

[ChrisG_UK]

I think Filetravel may be in trouble. They are not responding to emails and I'm sure something is very wrong there. Anyone else noticed?

[Sockpuppet]

Looks like they have pulled the plug on anything other than PAYE:

http://www.filetravel.co.uk/

[Money Money Money]

Email received from Filetravel!

The Finance Bill 2007 released on the 30th March, dramatically changed the definition of a Managed Service Company (MSC). After due consideration and following consultation with our legal advisors, Filetravel’s association with independent Personal Service Companies would by definition create typical managed service company conditions. Acting with everyone’s best interests, Filetravel will not put our clients and agency partners finances at risk. This fact is the underlying premise of our decision to withdraw from providing independent PSC related services.



Filetravel is not alone in being affected by this legislation, clearly any PSC provider who encourages, facilitates or otherwise is actively involved and benefits financially on an ongoing basis from an individuals company would appear to be caught by the MSC legislation.


Filetravel will now focus on its other core business areas by providing efficient PAYE based services to contractors, freelancers and temporary workers. These services are aimed towards contractors who want a simple but effective net payment solution that is compliant and effective. If you would like further information please email xxxxxxxxxxxxxx

[squiggle]

Filetravel issues

Filetravel have really messed me up - they only told me 2 days before the end of the tax year that I needed to get all my regular offset-against-tax expenses (like daily allowances) in, because after that everything would be PAYE. I hadn't put them in for about a year and it was a lot of money. I spent ages doing all the paperwork, but in vain it turned out as at that stage I had no more payments going through before the end of the year to offset the expenses against. If only they had bothered to tell me a few weeks earlier I could have done something, but they didn't bother - too busy trying to get people to sign up for their PAYE service, I suppose. I've now lost out on a large amount of tax relief and I am furious! I can't be the only one affected by this?!