Reply to: IR35 Insurance Permanent Role

[rootsnall]

Um, ones a former legal entity that doesn't exist anymore and the latter is a legal entity that still exists so can be pursued.

Pursued for what though if it has no money or assets left. Only thinking out loud, and gloating a bit as my Ltd is now dead and buried. But it was something I mulled over while awaiting strike off.

[eek]

I wonder if there is any difference to HMRC between being 'closed' and having an empty bank account and in the process of closing.

Um, ones a former legal entity that doesn't exist anymore and the latter is a legal entity that still exists so can be pursued.

[rootsnall]

Speak 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.

I wonder if there is any difference to HMRC between being 'closed' and having an empty bank account and in the process of closing.

[eek]

I 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?

Speak 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.

[kaiser78]

Did 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 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?

[eek]

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?

Did you not read Malvolio's post

You 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?

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...;.

[kaiser78]

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?

[GhostofTarbera]

You 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?

Have ipse ever published how many IR35 investigations are ongoing in last 2 years yet?

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


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[eek]

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!

Cheaper options are available as perkbox actually doesn't cost that much..

[rawly]

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!

[eek]

You 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?

Far less crap than you do - and I only have to look at the coming IR35 changes to say - yes as a campaign group IPSE completely and utterly failed

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.

[malvolio]

Anything to keep money coming in for the failed entity that is IPSE.

You 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?

[eek]

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.

Anything to keep money coming in for the failed entity that is IPSE.

[malvolio]

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.

[rootsnall]

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.