Originally posted by PerfectStorm
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!
Reply to: How long to keep IR35 insurance up?
Collapse
You are not logged in or you do not have permission to access this page. This could be due to one of several reasons:
- You are not logged in. If you are already registered, fill in the form below to log in, or follow the "Sign Up" link to register a new account.
- You may not have sufficient privileges to access this page. Are you trying to edit someone else's post, access administrative features or some other privileged system?
- If you are trying to post, the administrator may have disabled your account, or it may be awaiting activation.
Logging in...
Previously on "How long to keep IR35 insurance up?"
Collapse
-
Originally posted by PerfectStorm View PostI wonder if QDOS will throw a party when the first TLC35 payout happens
Leave a comment:
-
I wonder if QDOS will throw a party when the first TLC35 payout happens
Leave a comment:
-
Originally posted by OneManBand View PostCompany is still trading. Contracting through company, but outside.
The insurance in question is the tax liability cover (TLC35) from Qdos.
But do I really have to have the insurance for as long as the company trades? Isn't there a limit of 6 years after which you no longer need to keep the documents, so that must mean they cannot come after you once 6 years have passed?
Regarding timelines for tax enquiries once opened (from the end of the relevant tax year): 4 years normally, 6 years if negligent, 20 years if fraudulent.
Leave a comment:
-
Company is still trading. Contracting through company, but outside.
The insurance in question is the tax liability cover (TLC35) from Qdos.
But do I really have to have the insurance for as long as the company trades? Isn't there a limit of 6 years after which you no longer need to keep the documents, so that must mean they cannot come after you once 6 years have passed?
Leave a comment:
-
Originally posted by ladymuck View PostIf you've closed it down then HMRC can't come after something that no longer exists.
Leave a comment:
-
Not enough information, really. If you've closed your company, possibly not. It may be invalid anyway depending on the T&C, but I would keep IPSE (for example) for a year or so (legal expenses cover, not insurance). If it's open/dormant, I would keep it for longer. Realistically, it may be some time after the tax year ended before an investigation is triggered and it may not look like an IR35 investigation for some time on top of that. If you're talking about tax loss insurance, that is pretty much a waste of money. It's the legal expenses insurance that you want and probably want to retain for some period (depending on the above circumstances).
Leave a comment:
-
Originally posted by OneManBand View PostMy Qdos IR35 insurance is up for renewal shortly. Is there still any point in keeping it for the sake of potential past investigations?
Leave a comment:
-
How long to keep IR35 insurance up?
My Qdos IR35 insurance is up for renewal shortly. Is there still any point in keeping it for the sake of potential past investigations?Tags: None
- 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
Leave a comment: