We can provide you with the support you deserve by advising and writing you the correct policy to purchase. We now offer the following types of insurance in partnership with the leading provider of contractor insurance products, QDOS Consulting.
Professional Idemnity Insurance
Qdos Professional Indemnity Insurance will cover you in the event of an alleged breach of professional duty, and is often stipulated in contracts. Professional Indemnity Insurance will react in circumstances where an error or omission in your services causes, or is alleged to have caused, a third party a financial loss. The policy covers both defence costs and any liability found owing in the event of a claim up to the limit of indemnity.
As with solicitors and accountants, contractors provide professional advice and services which are relied on by their clients. Even where care and skill is exercised, there is still the potential for you to make a mistake that causes financial loss to a client or for a client to allege that you have made a mistake even if you have not. Whilst such disputes are rare, when they occur they can be costly.
Public and Employers Liability Insurance
Qdos Public and Employers Liability Insurance covers the legal liability of a business in the event they are liable for injury or illness to their employees or third parties, as well as property damage that may be caused in the provision of business activities.
Public Liability Insurance will react in circumstances where a third party (an individual person, or a corporate entity) brings legal action against you in respect of physical injury, or damage to property, caused by you in the course of your business. The policy is designed to defend your case and, if necessary, pay the damages owed.
Employers Liability Insurance will react in circumstances where an employee seeks to bring a claim against you for personal injury or accidental death sustained as a result of their employment with you. This policy will defend such a claim and pay the damages for which you are liable.
Employers Liability Insurance is compulsory for any business that has one or more employees, whether they are permanent, part time, or temporary. Employers Liability is not a legal requirement if you are a ‘Ltd’ Company, you are the only employee and you own at least 50% of the issued share capital of the company.
Tax Enquiry Insurance
Tax Enquiry Insurance provides you with expert defence (up to £50k) in the event of any HMRC enquiry, including IR35. One of our consultants will handle all correspondence with HMRC from start to finish, so you can be safe in the knowledge that you have an expert fighting your corner. This policy also includes an IR35 contract assessment as standard.
Tax Liability Cover (TLC35)
Tax Liability Cover is a comprehensive insurance policy designed with the threat of IR35 in mind. TLC35 covers the representation costs of defending your case in the event of a variety of HMRC enquiries up to your selected level of indemnity (minimum of £50K). Additionally, if you are subject to an IR35 enquiry and are subsequently found to be ‘caught’ by the legislation, the policy will cover the tax, NI, interest and penalties for which you are liable (including in relation to travel and subsistence expenses), up to your selected level of indemnity (from £25K to 100k). This policy also includes unlimited IR35 contract assessments.
This insurance is offered on a 'claims made' basis. This means that the policy will cover claims which arise and are notified to our claims department whilst cover is in place, regardless of the period of time into which HMRC are enquiring.
* £50k is provided in the event of £25k and £50k policies, then £75k or £100k respectively. This policy covers a PAYE compliance review/ an IR35 dispute/ a PAYE/NIC dispute/ a VAT dispute/ any HMRC aspect enquiry/ any HMRC full enquiry/ a Section 660A dispute.
**For an additional premium of £252 per annum you can also include cover for tax, interest and penalties as a result of a Section 660A enquiry. This option can be selected during application.
For a competitive and free quote, please complete the below form with as much detail as possible and we will get back to you within a working day.