[D.Salkeld_Ltd]

Hi Folks,

Can anyone recomend a good value PL ins policy for a Ltd Co with just ME?

(Understand what I mean?!)

David Salkeld

[spotless2000]

Hi David

Have you tried Zurich? (you may find cheaper but they seem to be up to speed with the WC industry).  Found them very helpful on the phone - No hard sell and plenty of help.

We set up a Ltd company back in Feb. (The wife and yours truly).  The negative aspect of this was that we had to have Public Liabilty and Employer's Liability insurance (legal requirement for a Ltd company) to cover both of us even though I was the only person actually cleaning.  They said that as my wife was an employee she could technically sue the company if she fell over whilst working (we work from home!!!)

Steve

[D.Salkeld_Ltd]

Thanks Steve,

I am at present with Zurich. It costs me £370 per year. Yes they gave me that old twaddle about the Co needing EL.  Mind you my wife is only Co Sec on paper and doesn't work for the Co, not paid!

David

[windows_chepstow]

Why are you Limited?

What, if any, are the advantages?

[D.Salkeld_Ltd]

Tosh,

There are no advantages NOW.  But back in 2003 the government decided to try and help small businesses by raising the corperation tax threshold to £10,000.  Which effectively meant if a one man band went Ltd. and paid himself £4000 (the tax limit wages then the company doesn't have to pay tax on the first £10,000 profit you effectively got £14,000 tax free!!!
I personally didn't pay tax for the first year Ltd.
The government soon realised what prats they had been and are now taxing companies at 19% on ALL profits however the wages of now £5030 are a company expence.

Understand!!!!!!
No?
Thats why I pay an accountant!!!!!

David