QDOS IR35 insurance any good ?

[platforminc]

Hi All,

Been contracting now for over a year and although I have not submitted any accounts yet etc, I'm thinking with the new tests that HMRC have put in place to carry out a quick tests, is it worth taking a qDos IR35 insurance ?

I done the test and I must say I'm a bit open to attack from HMRC, so I would like to get my house in order and reduce my risks.

I already have prof indemnity insurance with them, I just want to know what the consensus is before jumping.

Thanks in advance.

[TestMangler]

Yes, absolutely. No question.

[JamJarST]

Yes, absolutely. No question.

Does that mean you have used it? If you have would you be able to share what the experience was lil?

[TestMangler]

Does that mean you have used it? Yes

If you have would you be able to share what the experience was lil? Good

there ya go....

[JamJarST]

there ya go....

Lol ... thanks (I think).

[TestMangler]

Well, allow me to retort

For the cost of insurance against the cost of the possible outcome if you don't have it, it's a no brainer.

Yes, i've used it and it worked to my advantage, with HMRC dropping the investigation (after 2.5.years !!)

Ensure you understand the mechanics of how to use it. For example, don't discuss anything to do with contracts, working practices or anything that could be seen as leading to an IR35 case with HMRC. Demand their questions are put in writing to be forwarded to your specialist rep.

Other than that, not much to say. It's cheap (in relative terms) and it works.

[Jessica@WhiteFieldTax]

Well, allow me to retort

For the cost of insurance against the cost of the possible outcome if you don't have it, it's a no brainer.

Agree with that...

[northernladuk]

Is it something to do with temperature dropping that people can't seem to do some basic research at the moment?

[psychocandy]

We talking about IR35 investigations insurance or IR35 costs insurance? i.e. just cover for legal/accounting stuff or fines/costs if you get caught?

IMHO - 1st one complete no brainer. If you dont have this you are stupid.

The other one where it covers you if you lose. Debatable. No-one has EVER EVER claimed off either QDOS or Abbey Tax apparently (the only people to ever lose an IR35 case whilst covered by these two did not have the complete insurance). But of argument as to what would happen when, in effect, you are claiming costs to cover you when you've broken the law (albeit a tax law).

[Butcheroo]

QDOS IR35 insurance any good ?

I just bought £75k protection from qdos @ £480 per year