PCG Plus insurance

[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

[Burdock]

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

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

[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.

[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.

[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!

[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.

[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.

[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!

[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!

[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