Insurance News

Our Insurance News area provides the latest insurance news related to the IR35 Legislation, Professional Indemnity and Contractor Insurance.

9 out of 10 Contractors are unaware of this Allowable Business Expense

Contractor Relevant Life

Did you know that Limited Company Contractors can now pay for their personal Life & Critical Illness Cover through the business?

Contractor Relevant Life now available with Critical Illness Cover

Contractor Relevant Life

C&D BPS are excited to introduce Contractor Relevant Life & Critical Illness Insurance, the most comprehensive Relevant Life & Critical Illness Policy currently available on the market today. You can now add Critical Illness to your tax-efficient Relevant Life Plan and have your Limited Company pay the premiums. This new policy is proving very popular in the Contractor market, not only can you now add Critical Illness but your company pays the premiums. It is classed as a business expense, meaning it’s tax-deductible, is not a benefit in kind, and can be up to 50% cheaper than paying for the same cover personally.

Office workers and Public Liability

 Office workers and Public Liability

There are a number of insurance policies on the market for contractors, but none of them are legally required with the single exception of Employers Liability (and only in the event of there being one or more employees in the company other than yourself, including your spouse doing the books).

Finding the Right Contractor Insurance

Those who are new to contracting must consider a number of factors to enable their company to succeed and not fall at any pitfalls that face modern contractors. New contractors need to study and seriously consider the correct insurance in order to work through their limited companies.

PI Insurance, Taking Care of Business

In the modern business climate, the attention to safety and precaution is high, and with lines of work that come with ‘professional risk’, the need for protection is great. Insurance is a commodity that is necessary in all sectors of trade, and this is adamant for those who are self-employed, and to any professional concerned with taking care of business, correct insurance is crucial.

Risk Takers and Recruitment Agencies

UK Contractors

Agencies have always been a sure way in which freelancers and contractors can find accessible work, without certain rigmaroles and costs that can come with the process of doing it alone. Research has revealed however that a staggering 70% of modern contractors are using recruitment agencies and jobs board to find new employment opportunities.

Top 5 Common Contract Review Slip Ups!

Contract reviews are a task that all contractors require, and more often than not are failed over very simple or easily avoided factors. With the help of highly experienced professionals, we have compiled the top 5 most common contract slip ups, so if ever you have failed a contract assessment or are in need of contract and IR35 advice, then take a look at this helpful insight.

Contractor Insurance Explained

A business, no matter how anybody tries to dress it up (or down) is fundamentally not much different than any other. Sure product, audience, revenue and targets may change, but at the bare bones of it all, a business is selling something to somebody, and that’s a fact. (If your business does not abide by this concept, then we advise that you seriously re-think your business strategy).

Should you be worried about IR35?

With words like ‘investigation’, ‘enquiry’ and ‘scrutiny’ being bandied around the contracting world, the whole concept of IR35 is one that quite often strikes fear into any budding freelancer.

Many contractors may be wondering at this point as to whether they should be worrying about IR35. If you are new to the contracting game (or you have been living under a rock) then the whole business regarding IR35 rules may have passed you by, in which case be warned: getting caught by the IR35 legislation could have a huge financial impact.

PI Insurance – Do Not Delay!

Despite the many advantages and obvious benefits of Professional Indemnity Insurance (PI Insurance) some contractors are still waiting months before purchasing the policy after setting up a limited company.

How Low Can You Go?

When it comes to the IR35 business test, scoring points is the aim of the game, but how relevant is being ‘low risk’ in the eyes of the HMRC?
Many contractors question the relevance of the business entity test and go as far to challenge its relevance when it comes to IR35. The HMRC can scrutinise any contractors over disputes and inquiries regarding IR35, a legislation that exists in order to discern whether a contractor is indeed what they are claiming they are, and not in fact a ‘disguised employee’.

Don’t Let the Olympics Land you in IR35 Trouble

With the country going barmy for the summer’s Olympic Games, contractors mustn’t forget to keep on top of their IR35 status.

The news and headlines these past weeks have been crammed with stories and rumours of this summer’s Olympics; even the roads of London have become a nightmare to traverse with re-direction and Olympic related congestion. With this commotion and clamour at large, we advise contractors do not lose focus on their IR35 issues as the HMRC are tightening their grip on potential ‘disguised employees’.

Promising IT is Good News for Contractors

In the harsh, competitive business world, every company strives to be one step ahead of the rest. This can range from undercutting opponents to offering that little bit extra, and recently firms across the nation are attempting to outdo each other in the ever changing area of IT.

This is great news for contractors, because the more investment made into IT results in more contracts and higher earnings for IT contractors. A contractor’s professional position relies on working within a contract basis, and with greater investments within technology; far more contracts will become available.

The Most PI Insurance Related Article That Isn’t Written About PI Insurance

I have written countless articles entitled, what is PI Insurance? Literally, one way or another I have described what PI Insurance is about 100 times more than any man has to do. (Which I estimate is around a dozen… and not a baker’s dozen at that). I have suddenly decided that that’s enough. No longer will I be writing about what PI Insurance is, and no longer will I be reciting endless scrolls on the benefits of that flipping insurance policy.

IR35, a Shady Operation?

Anonymous phone calls, strange phoney agents, non-existent addresses? This may sound like the makings of some cheesy FBI movie, but this is what some IT contractors are reporting, and paranoia is surfacing… are the HMRC somehow connected? Is IR35 scrutiny taking a nasty turn? Do those who make the rules then not have to play by them?

‘Pukka’ PI Insurance

There are many contractors who may well understand the necessity and importance of Professional Indemnity Insurance but still feel uneasy when purchasing such a product. To understand which policies are the rights ones, one must first study the differences between each type of contractor insurance.

Who Can Really 'Pass' the IR35 Business Test?

The recent Business Entity Test regarding IR35 has had many contractors scratching their heads, most wondering why or how they have failed.

The What Where and Why’s of Contractor Insurance

Contractors require a certain level of insurance and protection, this quick guide will help anyone in need of knowing the ‘what where and why’s’ of contractor insurance.

PI Insurance Needed in Every Snapshot

The importance and versatility of PI insurance is again highlighted with increasing numbers of photographers purchasing the policy.

Who Bought All the PI’s?

Professional Indemnity Insurance (PI insurance) is a much needed, frequently bought policy, and is regarded as a business’s bread and butter when it comes to insurance. It is by far one of the most popular forms of business insurance and is one of the most essential, beneficial and therefore popular products on the market. This poses a couple of frequently asked questions however… Just why is it that PI insurance is so widely bought? And to whom is it most beneficial? Well, we know the answers…

Leading the Way in Insurance Sales

If online shops are the way forward in an expanding sales environment, then Qdos are leading the way in insurance marketing.

Lowering Your Insurance Charges – The 4 Easy Steps

A time and cost free guide to reducing you insurance rates effectively and easily.

RICS Challenge the PI Insurance Market

Once again, the Pi insurance market is under scrutiny, with companies appealing that the increasing costs of claims is reflecting on the rising prices of insurance.

Does Cheap PI Insurance Really Exist?

In a market of hefty price tags, cheap insurances do exist. The question is however, which policies you should steer clear of, and which should you consider. Does cheap PI insurance really exist?

Why We Need IR35 Insurance More Than Ever

In a market where IR35 exists, especially in light of the recent HMRC update, full IR35 insurance is proving to be a must have product.

Limited Companies in Public Sector

Recent reports have shown shocking numbers of workers in the public sector that are avoiding tax and dodging the national insurance by working via individual limited companies.

Some Advice Would be Nice…

As the insurance markets continue to expand, with policies increasing in both value and scope, it is feared that the customer is beginning to get left behind. Worry exists that within the busy market, no one is bothering to give personal and independent guidance.

Is IR35 manipulation a thing of the past?

As the HMRC ‘improved’ guidance is released regarding legitimacy of personal service companies, many believe that it is not enough to prevent IR35 abuse.

Business advisor Philip Fisher commented on the recent assessment and points out a number of flaws regarding each test drawn out in the HMRC valuation.

Contractor Insurance Faces Potential Decline

As agencies around Britain report falling numbers of contract placements, insurance is set to feel the effects.

Billings for contract placements has been on the decline since the beginning of last year, and as agencies show this continuing fall throughout 2012, those in the market of contractor insurance are faced with potential problems. Temporary contractors often require a number of safeguards from insurance companies to secure both their position and peace of mind. From contractor insurance to contractor PI insurance, these placements are necessary for insurers to sell products, but if the numbers of placements themselves are waning, this ripple effect could have an impact on how insurers set both prices and packages.

Does PI insurance need to be able to ‘run off’?

Professional indemnity insurance is a policy that operates on the system of ‘claims made’ as opposed to occurring when an action takes place. ‘Run off’ is a PI insurance policy that protects a client from a claim that may be made far after their action took place.

Management Consultants need PI insurance too

In high demand, high expectation professions, factors such as stress, work load build up and anxiety are frequently overlooked in performance. Professional indemnity insurance can act as protection for this in the arena of management consultation.

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