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UK Contractor; Post Budget Consequences

4 replies [Last post]
Tue, 2007-08-07 06:03
David Podmore
User offline. Last seen 12 years 16 weeks ago. Offline
Joined: 26 Apr 2006
Posts: 74
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Hi All,
This is really aimed at UK based contractors so I apologise to those of you to whom this is of no relevance.
The latest Budget this year (2007) stopped the Managed Company schemes in operation and forced Limited Companies to "go it alone" with a proper accountant etc.
No problem as far as I have found. Except....
I no longer have any insurance as I was covered by my service company policy so it is now down to me to get it. The however in all this is that Employer Liability seems odd in that as I am the sole employee, I’d never sue myself. This was the opinion of a couple of large, well known, insurance companies.
I don’t even need to insure my work tools as I’m a Planning Engineer and don’t have any!
I have found a couple of insurance companies who supposedly offer policies to cover Limited, one man bands such as we contractors but they decline to cover me as my turnover is too high!!!
Pah!
Is it just me or is there a problem out there? I’d be most interested in what other have experienced.
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Replies

Thu, 2007-08-09 10:12
#1
David Podmore
User offline. Last seen 12 years 16 weeks ago. Offline
Joined: 26 Apr 2006
Posts: 74
Groups: None
Thanks for that tip - David
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Thu, 2007-08-09 10:00
#2
Peter Holroyd
User offline. Last seen 2 weeks 1 day ago. Offline
Joined: 6 Jun 2005
Posts: 160
Groups: Petro-Chem / Oil & Gas
Try pscinsurancesolutions.co.uk
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Thu, 2007-08-09 04:03
#3
David Podmore
User offline. Last seen 12 years 16 weeks ago. Offline
Joined: 26 Apr 2006
Posts: 74
Groups: None
Ah, now that is an excellent idea. Cunning!
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Wed, 2007-08-08 21:27
#4
Clive Randall
User offline. Last seen 16 years 19 weeks ago. Offline
Joined: 15 Aug 2005
Posts: 744
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Strikes me that you may have just found a window of opportunity, ie 100 pound policies for people who wont ever claim.
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