Reply to: PCG and QDOS can save the day with IR35 insurance for agencies

[northernladuk]

In fact the more the merrier, at a certain level of take up it won't even matter if the IR35 cases are won or lost. HMRC are undertaking around a couple of hundred investigations a year, spread that cost, including losses, across over a million freelancers and it becomes a small price for contractors to pay. A BUPA for IR35.

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You are just talking rubbish now.

[Lewis]

Sounds like a great business opportunity to me.

In fact the more the merrier, at a certain level of take up it won't even matter if the IR35 cases are won or lost. HMRC are undertaking around a couple of hundred investigations a year, spread that cost, including losses, across over a million freelancers and it becomes a small price for contractors to pay. A BUPA for IR35.

Not when you understand what a following notice would do to that insurance bill....

I’d like to think each case has to be judged on its own merits, but I agree things like APNs make me think that HMRC wouldn’t take such an insurance laying down and would try to bulldoze through it.

The devil is in the detail. When IR35 was first announced, one of the biggest questions was who would be liable. It was mooted even then that it would be the client or the agent. If the checks don't change though, contractors buying insurance to protect their agency/client against IR35 might work.

Yes unfortunately I remember those days well. It resulted in the ballooning of the offshore scheme, which is what makes me think someone will come up with something to get around these rules, whether or not it works is another matter.

Will be interested to see the detail. Fortunately, I’m not in the public sector and have worked hard to build a healthy plan B that will protect me going forward no matter what happens to contracting.

[NotAllThere]

The devil is in the detail. When IR35 was first announced, one of the biggest questions was who would be liable. It was mooted even then that it would be the client or the agent. If the checks don't change though, contractors buying insurance to protect their agency/client against IR35 might work.

[northernladuk]

I think this one should go to General.

[malvolio]

I believe the argument goes that Ipse are more than just an insurance product, but I've been contracting for 20 years and have yet to meet a member who joined for anything other than the insurance they offer.

I know quite a few...

[eek]

Sounds like a great business opportunity to me.

Not when you understand what a following notice would do to that insurance bill....

[Lewis]

However its one thing to insure 100,000 contractors for £25,000 each on average, its another to insure 1,000 agencies for £2m each.

Sounds like a great business opportunity to me.

[northernladuk]

I believe the argument goes that Ipse are more than just an insurance product, but I've been contracting for 20 years and have yet to meet a member who joined for anything other than the insurance they offer.

IPSE don't do insurance.

[Lewis]

Isn't there a confluence of interest here? Why would organisations fight too hard against legislation that they're selling insurance to protect you from? It'd be like Direct Line trying to push for crash-proof cars.

I believe the argument goes that Ipse are more than just an insurance product, but I've been contracting for 20 years and have yet to meet a member who joined for anything other than the insurance they offer.

[westtester]

The MoD are now excluding independent contract reviews as evidence of IR35 compliance from contractors. Who's to say they wouldn't take the same approach for similar agency based insurance?

[LondonManc]

Isn't there a confluence of interest here? Why would organisations fight too hard against legislation that they're selling insurance to protect you from? It'd be like Direct Line trying to push for crash-proof cars.

[northernladuk]

They'll always be the PCG to me

Anyhow, it was just a thought that sprung to mind.

Might want to change your thinking a little then if you want to present forward thinking ideas to the contractor community and be taken seriously.

I've a feeling we've got at least 6 months of this to come

[eek]

A) We don't know. It's too early. Why don't you wait and see....

B) Surely if you are putting together a game changing idea it might be worth getting the name of the organisation right. It's not been PCG since 2014.

Great input though thanks.

WNLUK said.

All we can do is wait for Monday, see the actual law and then work out what if any workarounds / assurances need to be given.

However its one thing to insure 100,000 contractors for £25,000 each on average, its another to insure 1,000 agencies for £2m each.

[Lewis]

B) Surely if you are putting together a game changing idea it might be worth getting the name of the organisation right. It's not been PCG since 2014. .

They'll always be the PCG to me

Anyhow, it was just a thought that sprung to mind.

[northernladuk]

If you don't want to take it from me... Take it straight from QDOS...

http://forums.contractoruk.com/accou...ml#post2339610