I think I've done due diligence and can't see the question or answer to this anywhere in the forums?! I've heard that QDOS insurance is invalidated once you stop working via your limited company. E.g. you move to an umbrella arrangement or simply stop trading. I've had a look through the small print and can't quite fathom it. Anybody have a better understanding/clearer view? Thanks
- Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
- Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!
QDOS insurance invalidated once stop working via LTD company?
Collapse
X
-
-
Originally posted by aligning2020 View PostI think I've done due diligence and can't see the question or answer to this anywhere in the forums?! I've heard that QDOS insurance is invalidated once you stop working via your limited company. E.g. you move to an umbrella arrangement or simply stop trading. I've had a look through the small print and can't quite fathom it. Anybody have a better understanding/clearer view? Thanks
If only there was a company you could phone up and ask... -
Originally posted by Paralytic View PostIf only there was a company you could phone up and ask...'CUK forum personality of 2011 - Winner - Yes really!!!!Comment
-
Yes, as I recall, their tax liability policies are written on a claims made basis, which is extremely common in the insurance industry. The policy must be in place at the time the claim is made. There are a few companies that offer cover for a defined period (e.g. Markel, formerly Abbey Tax).Comment
-
Originally posted by jamesbrown View PostYes, as I recall, their tax liability policies are written on a claims made basis, which is extremely common in the insurance industry. The policy must be in place at the time the claim is made. There are a few companies that offer cover for a defined period (e.g. Markel, formerly Abbey Tax).
"I've heard that QDOS insurance is invalidated once you stop working via your limited company. E.g. you move to an umbrella arrangement or simply stop trading."
ie. even if you still have a insurance in place, it is invalidated if you go via an Umbrella. I suspect it was a confused mind who came up with that.Comment
-
Originally posted by Paralytic View PostThat's not what was suggested though:
"I've heard that QDOS insurance is invalidated once you stop working via your limited company. E.g. you move to an umbrella arrangement or simply stop trading."
ie. even if you still have a insurance in place, it is invalidated if you go via an Umbrella. I suspect it was a confused mind who came up with that.Comment
-
Originally posted by jamesbrown View PostI read what was written. You can interpret my answer how you want. If the insurance lapses (e.g., because it was paid by your company for your company and your company no longer exists), then the insurance basis is claims made. Sure, if there is a valid contract in place at the time a claim is made, it will be honoured to the extent the T&Cs are met.Comment
-
Originally posted by Paralytic View PostYes, we are in agreement..
Sent from my iPhone using Contractor UK ForumComment
-
Originally posted by GhostofTarbera View PostI also concur
Sent from my iPhone using Contractor UK Forum'CUK forum personality of 2011 - Winner - Yes really!!!!Comment
-
Comment
- Home
- News & Features
- First Timers
- IR35 / S660 / BN66
- Employee Benefit Trusts
- Agency Workers Regulations
- MSC Legislation
- Limited Companies
- Dividends
- Umbrella Company
- VAT / Flat Rate VAT
- Job News & Guides
- Money News & Guides
- Guide to Contracts
- Successful Contracting
- Contracting Overseas
- Contractor Calculators
- MVL
- Contractor Expenses
Advertisers
Contractor Services
CUK News
- Streamline Your Retirement with iSIPP: A Solution for Contractor Pensions Sep 1 09:13
- Making the most of pension lump sums: overview for contractors Sep 1 08:36
- Umbrella company tribunal cases are opening up; are your wages subject to unlawful deductions, too? Aug 31 08:38
- Contractors, relabelling 'labour' as 'services' to appear 'fully contracted out' won't dupe IR35 inspectors Aug 31 08:30
- How often does HMRC check tax returns? Aug 30 08:27
- Work-life balance as an IT contractor: 5 top tips from a tech recruiter Aug 30 08:20
- Autumn Statement 2023 tipped to prioritise mental health, in a boost for UK workplaces Aug 29 08:33
- Final reminder for contractors to respond to the umbrella consultation (closing today) Aug 29 08:09
- Top 5 most in demand cyber security contract roles Aug 25 08:38
- Changes to the right to request flexible working are incoming, but how will contractors be affected? Aug 24 08:25
Comment