Freelance Contractor Insurance
Professional Indemnity Insurance, Tax Liability Cover (IR 35), Public & Employer Liability Cover and other essential cover for Freelance contractors.

Products and services for freelancer contractors include: Professional Indemnity Insurance Tax Liability Cover (IR35), Employers Liability & Public Liability cover.

Getting the right protection at the right time is essential for any contractor or freelancer. Whether you’re new to the UK contracting market place or have been working in this way for some time, the risks are as prominent as ever and it is essential that you have all the relevant policies in place.

Here at Freelancer Financials we are happy to be able to provide the essential insurance cover to purchase on our online shop.

Policies that we can provide are created and dealt with by Qdos Contractor, a well established business compliance and consulting firm who has not only offered insurance policies to the freelancer and contractor market place but also supported them with contract assessments. They have represented and won over 1000 HMRC investigation cases to date.

Qdos Contractor is also authorised and regulated by the Financial Conduct Authority.

Business Insurance for Freelance Contractors

It is often vital that you hold business insurances, namely Employers’ Liability, Public Liability and Professional Indemnity. These not only provide coverage should a claim ever be made, but also help to show that you are a genuine business should your status be called into question.

“As a contractor or freelancer you are responsible for providing a service to your client, hence if any of the work or recommendations you make are incorrect you are liable.”

The type and level of coverage required will vary from trade to trade, but some insurers offer low cost ‘off the shelf’ policies.

Qdos Freelancer Public and Employers’ Liability Insurance (PL & EL) is tailored to provide your business with the protection required to meet your statutory obligations. Policies can be purchased from our Insurance Shop and start from just £147.

Tax Enquiry

Any HMRC enquiry is daunting, stressful and generally expensive. Small errors can end up as large tax demands. If you’ve done nothing wrong, paying expensive representation costs just to prove your innocence leaves a particularly nasty taste in the mouth. Furthermore, under self assessment anyone can be randomly selected for enquiry.

It is always advisable to seek professional advice and representation in the case of an enquiry. Qdos has therefore developed the Freelancer Tax Protection policy, which covers up to £50,000 of our costs, meaning your case will be dealt with by one of the UK’s top tax experts. It is just £99 per annum and covers all backdated tax years.

IR35

IR35 was introduced by HM Revenue & Customs (HMRC) in April 2000 and was originally designed to catch people who were an employee of a company on a Friday, only to return as a contractor on Monday simply to take advantage of the tax benefits.

Since then it has developed and HMRC regularly attack contractors of all types, which causes huge levels of uncertainty and worry. If a contractor is investigated enquiries can often take over two years to conclude and if unsuccessful can mean an enormous tax bill. Last year a contractor lost his case at the High Court and was faced with a bill of £99,000.

Many of the IR35 challenges are as a direct result of a PAYE compliance visit. However, under self-assessment, HMRC has the power to open an enquiry into any tax return or set of business accounts. The professional fees to defend such enquiries can be substantial. The importance of considering insurance against this eventuality has never been as high as it is today.

The chances of being investigated differ widely from sector to sector but our experience shows that freelancer contractors are very much under the spotlight.

If you provide services for customers over a longer period of time the Intermediaries Legislation (IR35) will become an issue.

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