PCG Plus insurance

[sathyaram_s]

You wouldn't need this extra cover for the first year atleast and possibly not needed for 2nd year too ...

Hi,
I am looking at taking out either the PCG Plus or PCG standard insurance - the PCG Plus version gives you cover for PAYE audit checks does anyone
have any information as to whether you really need this extra cover - will
these checks only be made after company has been in operation for more
than a year?


Regards
Paul

[zathras]

Hi,
I am looking at taking out either the PCG Plus or PCG standard insurance - the PCG Plus version gives you cover for PAYE audit checks does anyone
have any information as to whether you really need this extra cover - will
these checks only be made after company has been in operation for more
than a year?


Regards
Paul

The difference between the insurance in standard PCG membership and the plus version is when it kicks in.

Standard you have to wait for the 'orrible brown envelope telling you that they think you are caught for IR35. A PAYE audit is Hector's favourite way of seeing if you are caught for IR35. Most of the time they seem to think you are - they would be wrong 99.9% of the time but that does not seem to stop them thinking it.

Plus you get to call in the Rottweillers when they tell you they will be looking at the PAYE records. This can often stop them pushing it.

[ElectricChair]

Duh, ask the seller whether you should pay them more money or not? What a maroon, and we're supposed to be businessmen!

not me - Im a disguised employee

[hugebrain]

Ask the fecking PCG!

Duh, ask the seller whether you should pay them more money or not? What a maroon, and we're supposed to be businessmen!

[Churchill]

Hi,
I am looking at taking out either the PCG Plus or PCG standard insurance - the PCG Plus version gives you cover for PAYE audit checks does anyone
have any information as to whether you really need this extra cover - will
these checks only be made after company has been in operation for more
than a year?


Regards
Paul

Ask the fecking PCG!

[malvolio]

I was thinking that a PAYE audit investigation would not be
particularly involved - are IT contractor companies that complicated?

Plus your accountant should be able to help you with what to say - and if they are going to launch into an IR35 investigation this decision would be taken fairly rapidly at which point the standard PCG cover would apply.

Having said all that, for £140 extra, its probably still worth it!

The basic PAYE investigation is not all that onerous - but answer the wrong question the wrong way and you're off on the three year, £15,000 roller-coaster that is the average IR35 investigation, which is why professional help before you get to that stage is such a good idea.

[Pondlife]

I was thinking that a PAYE audit investigation would not be
particularly involved - are IT contractor companies that complicated?

snip...

Having said all that, for £140 extra, its probably still worth it!

SallyAnne (regular poster) has just been through this and would guess that she would advocate the £140 for the cover/peace of mind/legal back up etc.

Edit: SA please feel free to tell me this is cr@p as I don't even know if you're in PCG.

[Paul77]

I was thinking that a PAYE audit investigation would not be
particularly involved - are IT contractor companies that complicated?

Plus your accountant should be able to help you with what to say - and if they are going to launch into an IR35 investigation this decision would be taken fairly rapidly at which point the standard PCG cover would apply.

Having said all that, for £140 extra, its probably still worth it!

[Pickle2]

By the time you've spent a couple of hours on client site posting here to ask questions about it, and then filling in the forms online once you realise its a good idea - its paid for itself. Just pay the cash out.

[malvolio]

Hi,
I am looking at taking out either the PCG Plus or PCG standard insurance - the PCG Plus version gives you cover for PAYE audit checks does anyone
have any information as to whether you really need this extra cover - will
these checks only be made after company has been in operation for more
than a year?


Regards
Paul

Quick answer is that PCGPlus covers any PAYE investigation and the idea is to stop it turning into an IR35 one; normal cover is only for IR35 investigations. Plus you get Jury Service cover (£300 a day for a few weeks) and insurance against losses as a result of your agency disappearing from underneath you. I've said it before, financially it's a no-brainer.

[Burdock]

Plenty of stuff about this in the Accountancy forum, try this for starters:

http://forums.contractoruk.com/thread16941.html

[Paul77]

Hi,
I am looking at taking out either the PCG Plus or PCG standard insurance - the PCG Plus version gives you cover for PAYE audit checks does anyone
have any information as to whether you really need this extra cover - will
these checks only be made after company has been in operation for more
than a year?


Regards
Paul