QDOS IR35 insurance

**northernladuk** · 18 April 2018, 11:55

The general consensus appears to be to keep TLC35 or any other similar product running for a year after you have finished to cover yourself for any retrospective action when you close the company or whatever.

As long as they check the contract they should cover the gig. If you have an odd situation where you started before you took it or whatever your best bet is to speak to them. Insurance often has a habit of working everything in their favour to avoid paying out so speak to them directly if you even slightly unsure.

**washed up contractor** · 18 April 2018, 12:08

The decision is how long to keep the insurance product current. HMRC can go back a lot further than 12 months. My advice is so long as your limited co exists, you need to maintain cover since HMRC could open an investigation at any time. Once your company has ceased trading and been closed, keep you cover for at least 12 months, potentially 2 years for piece of mind.

**malvolio** · 18 April 2018, 12:57

Originally posted by SmartieDriver View Post

Hi,

I'm new to contracting, started in October on a 6-month contract, and it's been extended WEF next week to end of September. do provide my public liability insurance.

What I don't understand is the time period it covers.. does it back-date to October, when I started contracting?

What happens once my contract ends? I have a small child so may go back to not working until she is older... do I need to maintain a current IR35 policy indefinitely to cover me should HMRC suddenly decide to investigate me in the future?

Or what if I go back to PAYE employment? Again, do I have to maintain a current policy just in case?

Many thanks!

PI and PLI is needed when the case is raised that requires it, so backdating it isn't really an issue. It offers legal support, primarily, to try to head off the case.

As regards longer term support for a variable career, perhaps basic IPSE membership to cover any tax-related inquiries is another option?

**PerfectStorm** · 18 April 2018, 13:33

Originally posted by malvolio View Post

PI and PLI is needed when the case is raised that requires it, so backdating it isn't really an issue. It offers legal support, primarily, to try to head off the case.

As regards longer term support for a variable career, perhaps basic IPSE membership to cover any tax-related inquiries is another option?

Is there some connection between you and IPSE other than being a customer? You seem to like them a lot

**SmartieDriver** · 18 April 2018, 14:02

Thanks, that makes a lot of sense.

**SmartieDriver** · 18 April 2018, 14:03

Originally posted by malvolio View Post

PI and PLI is needed when the case is raised that requires it, so backdating it isn't really an issue. It offers legal support, primarily, to try to head off the case.

As regards longer term support for a variable career, perhaps basic IPSE membership to cover any tax-related inquiries is another option?

The IPSE cover doesn't seem to mention anything about covering a tax liability if HMRC should decide I fall inside IR35?

**malvolio** · 18 April 2018, 14:14

Originally posted by SmartieDriver View Post

The IPSE cover doesn't seem to mention anything about covering a tax liability if HMRC should decide I fall inside IR35?

No it doesn't. However it is available through them at much the same cost as the QDOS version. Plus the underlying cover from being a member is much wider ranging.

I won't restart the debate about whether or not you actually need tax charge protection though. Since the change to the PS rules, and any future changes to the private sector equivalents, that is a whole lot more difficult to decide.

**malvolio** · 18 April 2018, 14:16

Originally posted by PerfectStorm View Post

Is there some connection between you and IPSE other than being a customer? You seem to like them a lot

You need to study your history...

However, IPSE's offering is a very sound and wide-ranging commercial proposition that too many newbie contractors know nothing about. It's up to them if they buy or not, but they need to be aware of it.

**PerfectStorm** · 18 April 2018, 15:18

Originally posted by malvolio View Post

You need to study your history...

Ah - what did I miss in that case?

QDOS IR35 insurance