A Guide to the new pension tax regime for contractors

Contractor Pension

The Finance Act 2004/5 contained proposals to simplify pension legislation. As of the 6th April 2006 (known as A day) these proposals have taken effect. Whether you are just starting your career as a Contractor or you are a Freelance Specialist about to retire, you need to know how these changes could affect the way that you plan for your Retirement... read more

Tips on choosing a contractor bank account.

Contractor Banking

One of the earliest decisions you need to make when you start up in business as a contractor is which bank account to opt for.

Tempting as it may be to simply open a business account with your existing bank, you could be missing out on lower charges and higher interest on a balance in credit. Over the long term, you could be depriving your enterprise of a significant amount of money... read more

Checklist for Professional Indemnity Insurance

Indemnity insurance can be obtained by professionals on their own, or through groups, such as employers or associations. Legitimate professional indemnity insurance is offered only by a few service providers and your choice may vary according to the risk covered. Professional indemnity is an exceptional guard particularly for small business and contractors. Following are the main features that you should look for in a typical indemnity insurance policy:

* Libel and Slander
* Loss of documents
* For negligence or breach of a duty of care
* Infringement of intellectual property rights
* Dishonesty of employees
* Fidelity
* Unintentional breach of confidence
* Infringement of copyright and intellectual property rights
* Negligent misstatement or misrepresentation

Business insurance cover for freelance professionals and contractors of UK

Business Insurance

Freelancing is becoming an increasingly lucrative way of living. Thanks, to the changing industrial scenario where the spotlight is now on contracting out major portions of work for reasons whatsoever, sky is actually the limit for freelance contractors...READ MORE

IR35/Legal Expenses Insurance and its significance in the world of freelancing!

Legal Expenses Insurance

Ever since its inception, IR35 has brought about substantial changes in United Kingdom’s taxation history. The IR35 legislation has been intended towards increasing tax and National Insurance (NIC) from the service industry since the government views that such small limited companies are increasingly being used to disguise employment. To read more about IR35/Legal Expenses Insurance...CLICK HERE

Professional Indemnity Insurance and its significance in the world of freelancing!

Professional Indemnity Insurance

Professional Indemnity (PI) Insurance has become very vital among the contractors and freelance consultants. Every professional now prefers to carry a professional indemnity cover to forego the risk involved in selling the skills and services on contractual basis. To read more about Professional Indemnity Insurance (PI) Insurance...CLICK HERE

IT Contractors reaps the benefit of Insurance

IT Contractor Insurance

Information and communications technology requirement precede any other organizational requirement for proper functioning of organizational processes. To reap the benefits of IT, more and more organizations are seeking for active ways to incorporate IT in their processes. The obvious gainers of this situation are IT contractors. Today more and more organizations are relying on them for efficient functioning of the IT department.

However, there are situations when the desired result fails to be achieved, leading to significant losses being inflicted by the organization. To make matters worse, these losses are often passed down to contractors and compensations are sought, making IT contractors a vulnerable lot. IT contractors insurance takes care of this. If you are an IT contractor selling your skill, knowledge, or product, you should definitely consider seeking an insurance cover, because you never know where things might go wrong.

Coulson Pritchard Associates, a specialist in the field of insurance are insuring freelancers of UK since 1996. They offer affordable rates for various insurance scheme for e.g. £165 p.a. for Professional Indemnity (PI) Insurance and £112 p.a. for Combined Business Insurance.

Products for IT Contractors Insurance

1. Professional Indemnity (PI) Insurance
   
2. Combined Business Insurance
   • Public Liability – Limit of Indemnity £1 Million
   • Employers Liability – Limit of Indemnity £5 Million
   • Business Equipment – Sum insured £5000
   • Business Interruption – Sum insured £2500
     
3. Legal Expenses Insurances
   
4. Personal Accident & Travel Insurance
5. Health & Safety Insurance
   

Coulson Pritchard Associate

Coulson Pritchard Associate is a leading insurance solution and mortgage solution provider for freelance professionals of UK. Among various services that being offered by Coulson Pritchard, following are the prominent:

1. Professional Indemnity (PI) Insurance
   
   • IT Contractors
   • Design Engineers
   • Interim Managers
   • Business and Management Consultants
     
2. Financial Services
   • Contractor Income Protection (PHI)
     
   • Contractor Critical Illness
   • Contractor Life Cover
   • Contractor Pension Advice
   • ISA (Individual Saving Account)
     
3. IT Contractor Mortgages
   • Mainstream Mortgages for Contractors
   • Self-Certified Mortgages
   • Buy to Let Mortgages
   • Re Mortgages
4. IT Contractors Personal Accident, Sickness and Travel Insurance
5. Legal Expenses and IR35 Insurance
6. Business Bank Accounts