Reply to: Going back to perm- IR35

[northernladuk]

Time to speak to QDOS I am afraid. We don't know. You've been in breach of your contract all this time and no insurances. Personally I wouldn't be bending the rules for you but I'm not taking your money

[loden]

Did you check to see if your contract required PI? Many do.

Also QDOS will need a checked contract that passed. If you haven't got one you are unlikely to get TLC35 from them.

Look on the upside, if you do come back contracting you'll do it properly this time.

Yes, I know my contract required PI, but never had one. Qdos state:Your company currently carries, or you will look to purchase business insurances, such as Professional Indemnity, Employers/Public Liability

Qdos offer a retroactive PI. Wouldn't that work for me?

[northernladuk]

Did you check to see if your contract required PI? Many do.

Also QDOS will need a checked contract that passed. If you haven't got one you are unlikely to get TLC35 from them.

Look on the upside, if you do come back contracting you'll do it properly this time.

[teapot418]

Isn't having a PI one of the tests that HMRC use for IR35?

It's a very, very minor pointer - and HMRC aren't going to care if you have it once you're perm - if you are unlucky enough to have an IR35 investigation , they will look at what your business was doing for the period they're investigating. If you're relying on things like that, you're probably going to be struggling. Read up on IR35 on the guides to the right --->

[loden]

YourCo is unlikely to be required to pay for the sort of problems covered by PI if you're working as an employee of the company. It doesn't sound like you need PI now.

Isn't having a PI one of the tests that HMRC use for IR35?

[loden]

YourCo is unlikely to be required to pay for the sort of problems covered by PI if you're working as an employee of the company. It doesn't sound like you need PI now.

Well, Qdos ask to have PI to have the IR35 cover.

[teapot418]

Yup. Don't you have IPSE+ already?

IPSE+ probably too much if OP is going perm - the business interruption stuff won't be needed. Standard would save a few quid.

[teapot418]

Much appreciated. I'm looking at the Qdos insurance. Would that be good enough to cover the eventual liabilities, i.e. all the taxes by HMRC?

Depends which cover you choose. The cover that includes liabilities is more expensive than the Tax investigation cover.

[teapot418]

Wondering if keeping the LTD open will be the condition from them to provide me the insurance?

I don't believe so. Ring them and ask.

[SueEllen]

Also, I don't have a professional indemnity insurance. Will I need to buy it now and have a retroactive cover for the period I worked with the LTD?

Why not?

[teapot418]

Also, I don't have a professional indemnity insurance. Will I need to buy it now and have a retroactive cover for the period I worked with the LTD?

YourCo is unlikely to be required to pay for the sort of problems covered by PI if you're working as an employee of the company. It doesn't sound like you need PI now.

[loden]

Wondering if keeping the LTD open will be the condition from them to provide me the insurance?

Also, I don't have a professional indemnity insurance. Will I need to buy it now and have a retroactive cover for the period I worked with the LTD?

[loden]

Yup. Don't you have IPSE+ already?

Wondering if keeping the LTD open will be the condition from them to provide me the insurance?

[northernladuk]

Yup. Don't you have IPSE+ already?

[loden]

Don't worry about it. It is what it is and nothing is going to change it now. Get your evidence filed, keep insurance for a year and get on with it. HMRC could be very busy with low hanging fruit with the PS carry on.

Much appreciated. I'm looking at the Qdos insurance. Would that be good enough to cover the eventual liabilities, i.e. all the taxes by HMRC?