Winding up

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billridley replied

25 April 2017, 12:55
I guess my thinking on this was that there is an overlap in the cover of the two 'insurances'. The overlap being cover for IR35 tax investigation. I thought (and this is the unclear bit) that the additional cover given by IPSE+ are things such as additional tax investigation protection, eg VAt inspection, Jury cover, agency going bust cover, industry representation etc. My thoughts were that these last items I don't need now as I wont be working this tax year (very confident my VAt and other tax affairs are ok as I have a good accountant). That is why I am unsure if spending £300 (approx) is throwing money away.
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fidot replied

25 April 2017, 12:07
Originally posted by billridley View Post

So near to retirement I could not afford to take any chances even though I am confident that I am outside the legislation. Gave me peace of mind.

Originally posted by billridley View Post

prior to that date my IPSE+ and IR35 Insurance comes up for renewal. I reckon I don't need the additional cover provided by IPSE + and intend to only renew the IR35 insurance for the next covering year. Is this a sensible approach or will IPSE + provide me with additional cover which is essential. Cheers

To me, these 2 statements appear contradictory. If you can't afford to take any chances, how can you afford not to renew these insurances?
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quackhandle replied

25 April 2017, 11:41
Better to have something and not need it rather than other way round.

qh
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Lance replied

25 April 2017, 10:44
personally I'd keep IPSE+ and ditch the IR35 insurance. IPSE will provide legal help, if not underwrite any losses. But I guess it depends how at risk you are of losing an IR35 battle.
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billridley started a topic Winding up

25 April 2017, 10:32
Winding up

Decided to call it a day and retire. Didn't do too much last financial year. Only a few months. Prior to that fully employed contracting going back 3 years. Would appreciate some advice please. I have always been cautious and had contracts reviewed for IR35 compliance, also taken out IPSE + and IR35 insurance. So near to retirement I could not afford to take any chances even though I am confident that I am outside the legislation. Gave me peace of mind. I intend to draw a salary and close the company in August, prior to that date my IPSE+ and IR35 Insurance comes up for renewal. I reckon I don't need the additional cover provided by IPSE + and intend to only renew the IR35 insurance for the next covering year. Is this a sensible approach or will IPSE + provide me with additional cover which is essential. Cheers
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