Originally posted by eek
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Reply to: IR35 Insurance Permanent Role
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Previously on "IR35 Insurance Permanent Role"
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Originally posted by rootsnall View PostI wonder if there is any difference to HMRC between being 'closed' and having an empty bank account and in the process of closing.
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Originally posted by eek View PostSpeak to QDOS then but it won't be cheap - and it's pointless as once your limited company is closed there is nothing for HMRC to chase unless you've been incredibly stupid.
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Originally posted by kaiser78 View PostI may be missing something here, his post is IPSE related.
I am referring to specific IR35 investigation cover and backpayment if ever asked to cough up. Didn't see this in his post.
Can anyone clarify my query?
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Originally posted by eek View PostDid you not read Malvolio's post
Now personally I wouldn't go near IPSE (for it will only encourage them) but if you are a member that run down fee is not much for some protection...;.
I am referring to specific IR35 investigation cover and backpayment if ever asked to cough up. Didn't see this in his post.
Can anyone clarify my query?
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Originally posted by kaiser78 View PostThanks all. Without de-railing this thread into a discussion around IPSE, what about IR35 insurance specifically?
Should I renew this which is quite a hefty amount, given I am going permie (reluctantly yet relievedly), or can I end the subscription there?
Originally posted by malvolio View PostYou do talk crap sometimes, do try and keep up. IPSE hasn't failed, it's going in a different market. Given that ours is rapidly disappearing I don't find that anything other than good sense. And I have little or nothing to do with them these days anyway.
The run down fee is £50, compared to £320 for plus membership. So not even a good income generator pitch, is it?
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Thanks all. Without de-railing this thread into a discussion around IPSE, what about IR35 insurance specifically?
Should I renew this which is quite a hefty amount, given I am going permie (reluctantly yet relievedly), or can I end the subscription there?
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Originally posted by malvolio View PostYou do talk crap sometimes, do try and keep up. IPSE hasn't failed, it's going in a different market. Given that ours is rapidly disappearing I don't find that anything other than good sense. And I have little or nothing to do with them these days anyway.
The run down fee is £50, compared to £320 for plus membership. So not even a good income generator pitch, is it?
I think you will find the answer is nil for common folk and a just a few high profile media types to keep people scared
Hence people are buying lighting insurance on a sunny day
Sent from my iPhone using Contractor UK Forum
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Originally posted by rawly View PostI'd probably keep IPSE going as long as they have Perkbox! I think I get my money back just on Savings I make with Avant West Coast! Plus all the other benefits. Saved alot on Sky recently and with a cashback!
I do, however, miss the Free Cafe Nero Coffee per month!
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I'd probably keep IPSE going as long as they have Perkbox! I think I get my money back just on Savings I make with Avant West Coast! Plus all the other benefits. Saved alot on Sky recently and with a cashback!
I do, however, miss the Free Cafe Nero Coffee per month!
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Originally posted by malvolio View PostYou do talk crap sometimes, do try and keep up. IPSE hasn't failed, it's going in a different market. Given that ours is rapidly disappearing I don't find that anything other than good sense. And I have little or nothing to do with them these days anyway.
The run down fee is £50, compared to £320 for plus membership. So not even a good income generator pitch, is it?
And there is actually a massive market out there for someone who represents contractors - the issue was that none of the companies that have profited off the industry actually did anything to solve the issues HMRC have with it.
But then again given the "I'm alright Jack, screw you" viewpoint that you seem to have to anyone else - it's not surprising how we ended up in this mess.Last edited by eek; 7 October 2020, 13:08.
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Originally posted by eek View PostAnything to keep money coming in for the failed entity that is IPSE.
The run down fee is £50, compared to £320 for plus membership. So not even a good income generator pitch, is it?
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Originally posted by malvolio View PostWorth noting that IPSE do have a "run down" membership option - basic membership at a reduced cost just in case. You would need to call the office to discuss the ins and outs, but it does work.
Membership (or any other similar insurance coverage) needs to be in place until the end of the tax year after your close down just to be safe.
Otherwise I echo JB's earlier comment - if it's claims made basis, then you may need it for some time since a claim can be made by a client years after the event. It all rather depends on what you were doing that made it necessary.
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Worth noting that IPSE do have a "run down" membership option - basic membership at a reduced cost just in case. You would need to call the office to discuss the ins and outs, but it does work.
Membership (or any other similar insurance coverage) needs to be in place until the end of the tax year after your close down just to be safe.
Otherwise I echo JB's earlier comment - if it's claims made basis, then you may need it for some time since a claim can be made by a client years after the event. It all rather depends on what you were doing that made it necessary.
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Are you closing your Ltd down ? Rightly or wrongly I kept my IPSE membership going until my Ltd was closed but I won't bother at the next renewal.
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