Although umbrella contracting at the mo (and have been for 2 years), I might go the dark side (permanent) again some point in the future...
I've got an old ASU (Accident Sickness Unemployment) insurance policy hanging over which I took out in my perm days.
For a perm employee, upon redundancy, this effectively covers a year's mortgage payments (oodles'n'oddles of cash) for £40/month.
This ASU policy is currently useless for me (as it would be for any umbrella or Ltd. contractor) and any claim would apparently open up the possibility of a tax investigation
So simple, ditch it right ?
Well, I've checked with the ASU company and they allow the policy to be transferred instantly between companies as long as there is 'continuous employment'. This means that I could go Umbrella -> Perm, get made redundant after one week and claim.
Worth keeping (a £40/month hit) just in case I decide to perm ?
Ditching means a re-application which I suspect will be rejected whilst umbrella employed. A re-application also carries a '6 months with current employer, no claim in first 4 months' clause .. a 10 month potential lock out if I ditch.
