PCG and QDOS - fees insurance alone, vs fees plus tax, interest and penalties cover

[Caunce O'Hara]

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[brianmcc]

SockPuppet: it's not the fees insurance I'm really asking about, it's the fact that QDOS covers any tax, interest and penalties arising in addition to the fees side, whereas PCGPlus membership does not. And as Malvolio points out (thanks, a helpful distinction) PCGPlus has its own cover for supporting members, rather than offering insurance directly.

Actual likelihood of actually having to pay such tax, interest and penalties aside, this seems a massive increase in peace of mind for a negligible price difference.

[malvolio]

I wouldn't bother. The insurance either PCG or QDOS offer against the tax investigation is something like £50k of accountants/solicitors fees. If HMRC manage to get though that then you'll have more than likley tripped a clause meaning the QDOS policy won't pay out.

Actually PCG is a lot more than a commercial insurance provider, so you're not really comparing like with like (for one thing, PCG don't sell PEI insurance to their members, they insure themselves against the cost of supporting a member and provding professional representation). You can get a similar package to TLC35 via Abbey Tax under the PCG cover although the costs are not immediately competetive. And as has been mentioned, the chances of you needing coverage for penalties (which are highly unlikely anyway) and back tax are remote in the extreme.

They both give you the protection. At the end of the day it's your money, but make sure you understand the whole PCG package first.

[Sockpuppet]

I wouldn't bother. The insurance either PCG or QDOS offer against the tax investigation is something like £50k of accountants/solicitors fees. If HMRC manage to get though that then you'll have more than likley tripped a clause meaning the QDOS policy won't pay out.

[brianmcc]

Hi all,

Apologies if this has been covered elsewhere but I've not found anything quite addressing this distinction. I also know folks from PCG and QDOS read/post here so their opinions more than welcome :-)

I'm looking at QDOS' TLC35 cover which appears to go further than PCGPlus membership, covering even any penalties and tax for back dated years should a decision go against a contractor, not just the professional fees involved.

QDOS seem to offer this regardless of contract review (although they do perform one), whereas AbbeyTax, a PCG affiliate, offer it only if the contract passes what are presumably quite rigorous upfront checks.

Both organisations seem to offer very good products and services, but this to me looks to give QDOS the edge in a "pick one" situation.

That said I am happy to join both, if anyone can offer good reason to do so; I'm sure to have missed stuff even from a fairly thorough read-through!

Thanks,

Brian