The company I contract at are implementing this solution to IR35 what I read from it is basically if you want to be outside then do so at your own risk.
- Contract assessed as outside IR35
- Contractor requirement to have a policy with insurance provider for x amount of IR35 cover (insurance company have disclaimer stating they may not pay out based on the answers I provided to IR35 related questions)
- Contractor signs separate indemnity policy agreeing to re-imburse the company for all tax, NI, penalties and interest should there be an enquiry against my contract and that the insurance fails to pay out.
Is that policy even legal, perhaps it is? Also if I agreed to above looks like I would need further insurance or a 100% certainty that I am outside.
- Contract assessed as outside IR35
- Contractor requirement to have a policy with insurance provider for x amount of IR35 cover (insurance company have disclaimer stating they may not pay out based on the answers I provided to IR35 related questions)
- Contractor signs separate indemnity policy agreeing to re-imburse the company for all tax, NI, penalties and interest should there be an enquiry against my contract and that the insurance fails to pay out.
Is that policy even legal, perhaps it is? Also if I agreed to above looks like I would need further insurance or a 100% certainty that I am outside.
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