So I had to buy one IR35 to work with one of my clients (a large company). It’s part of their requirements to do the contract. They also require the common Public Liability and Professional Indemnity insurance. I bought the IR35 Protect (Essential) from kingsbridge.co.uk
Why do you need an IR35 insurance?
To be honest, I wouldn’t pay for it unless I was forced to. It’s something they require for any web developer or designer, etc. Basically all freelancers they collaborate with. That’s what I needed:
“We also now require all Contractors operating Outside IR35 to hold a IR35 Protection Insurance in respect of:
- Tax investigations for a sum of not less than £100,000
- Tax liability insurance for a sum of not less than £100,000″
As every insurance, this is in case something go wrong…
I watched this webinar where you can learn a bit more about it https://www.youtube.com/watch?v=8L-BMnenIag
Between a freelance that has the insurance and one other who has not, the agency might choose the freelancer who is insured.
What is this IR35 insurance about? “all about giving the client the confidence”
https://www.youtube.com/watch?v=8L-BMnenIag from 1h44
Kingsbridge IR35 insurance
https://www.kingsbridge.co.uk/products/legal-ir35-protect-cover.html
£149.50 +IPT(Insurance Premium Tax): £17.94 Total payable: £167.44
The essential package protects you and the company you work for.
The premium would be £199.50 + IPT gibing you access to Unlimited access to the Kingsbridge Status Tool.
I personally don’t want to pay the extra for the tool, I will discuss with my client the status before to agree on each role. I don’t think arguing with the client on IR35 status is a good start for a collaboration. But the legal bits can be good if a company hire you as outside IR35 and then change their mind and set you inside.
Get a Kingsbridge discount code with a Kingsbridge insurance referral invitation for 10% discount
I only know Kingsbridge IR35, so I picked that one… (I was also in a rush to get the contract sorted). If you take the IR35 + another insurance from them you can get a 10% discount. (See the Kingsbridge insurance refer a friends terms)
How to get my Kingsbridge referral code for 10% off?
Head to https://www.kingsbridge.co.uk/refer-a-friend.html and fill your details.
You can use my details Denis Bouquet and my email den.bouquet[-at-]gmail.com as the referrer (and leave me a comment here please).
This Kingsbridge insurance referral says it can’t be used only for the IR35.
Kingsbridge insurance refer a friend terms and conditions (extract only)
Discount terms and conditions: 10% discount valid on standard packages of insurance only. Offer not valid on policy renewals and excludes the purchase of Legal Expenses and IR35 Protect policies purchased on their own. 10% Discount cannot be used in conjunction with any other discount. See full terms and conditions below for further details.
More info in this newsletter
If you find another IR35 insurance, please share in comments, that could help other UK freelancers!