The main three insurances to consider for your company are: professional indemnity insurance; public liability insurance; and employers’ liability insurance. Further information on these three insurances is available in the links below.
However, when moving to working through a limited company, there are also personal insurances that are worth investigating.
Most personal insurances are not tax deductible business expenses and would incur benefit in kind taxes (see link below for further details) if paid directly out of the company. For that reason private health and dental insurances along with life assurance policies should be paid for personally. It is, however, possible for the company to insure its key personnel and when the company is the named beneficiary the insurance premiums are usually counted as tax deductible expenses.
When moving from a permanent role to working through your own limited company it is a good idea to take a moment to stop and think about what your finances would look like if you were prevented from working for a period of time.
Just because you are an independent contractor, consultant or freelancer doesn’t mean that you cannot have some contingency in place if the worst were to happen.
Integro Accounting have partnered with a market leading firm of specialist financial advisers who share Integro Accounting’s values; striving to go the extra mile for clients at all times.
If you would like to explore this area further please to get in touch and we can arrange a free initial consultation for you with an adviser who will take the time to get to know you, your company and your goals.
Why Integro Accounting?
Integro Accounting is the UK’s only specialist provider of fixed fee, limited company accountancy services for contractors, consultants and freelancers that was established to an award winning standard – our Practice Manager, Maria Hickmott FCCA, won The British Accountancy Awards’ ‘Accountant of the Year’ in 2011.
We were set up with the vision of providing a service that is the ultimate for the dynamic, busy professional of today in a language you understand.
Integro Accounting have designed a bespoke service for the contractor who is always on the go; never forgetting that one size will never fit all.
The relationship you have with your accountant is the most important factor in our service which is why we will always offer unlimited contact with your own personal accountant; whether that contact is via the phone, email or face to face.
We have our 3 offices located in London, the South-West and on the Bedfordshire and Buckinghamshire border. There are also meeting locations in many of the major cities and towns across the Home counties, South-West and South Wales, all conveniently placed so that you never have to travel far to meet your accountant.
If you have any questions about contracting or would like to find out more about how Integro Accounting can help you and business please call Christian on 01525 303984, email firstname.lastname@example.org or request a callback.