Any body know of any company’s who do public liability insurance for a self employed, sole trader driving other people’s trucks?
Public liability only as the driver will be covered by the owner insurance company for driving the vehicle.
What sector
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You don’t need it you will be covered by the companies insurance. Bit risky going sole trader hope you’ve another form of income too
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alix776:
You don’t need it you will be covered by the companies insurance. Bit risky going sole trader hope you’ve another form of income too
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It’s not for me it’s for a mate.
He does have a pension so just wants some casual work now and again to top up.
I didn’t think he needed it but he says he’s been advised. To get it. He’s rang a few insurance company’s who apparently don’t do it on its own for self employed drivers
The forum sponsor is an insurance firm phone them up and see what they say.
(Earns brownie points for mentioning the forum sponsor 
)
They would advise him that he needs it he should be covered by Tue company he is driving for. But as said he needs to loom in to this before setting up. To be honest of hes going direct he’d be better going paye on the books. If going se he really needs to go ltd rather than sole trader. But there are pit falls to both although he’s only doing it part time he is effectively starting a bussiness so will need to run it as that. He needs to see an accountant really
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The brown stuff hits the fan …
Ltd Co = walks away with wallet intact after folding company
Sole trader = liable to loose everything they own
PAYE = gets sack
What would you choose??
peirre:
The brown stuff hits the fan …
Ltd Co = walks away with wallet intact after folding company
Sole trader = liable to loose everything they own
PAYE = gets sackWhat would you choose??
I think he understands all that but the reality is he’s only hiring himself so shouldn’t rack up any debts as such. He’s not going to be taking out any loans or finance etc so as long as he pays his tax and ni then no debts should be owed.
Your missing the point unless he has another income from his business he needs to go ltd or go on the books. Yes he is hiring him self out. But he needs to do this through a ltd company to distance him self. For example if he’s a an self employed hgv mechanic and then a couple of times aweek drives a truck for one of his clients then he wouldn’t need to go ltd. If he has no other income then he’s leaving himself and the company he’s working for being hammered by hmrc to a large bill under the disguised employment legeslation this is being tightened up
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Coolrider:
He’s not going to be taking out any loans or finance etc so as long as he pays his tax and ni then no debts should be owed.
But as a sole trader, should things go catastrophically wrong
ie: the haulier sues him for huge financial loses due to his actions, then he is personnelly liable for that debt. Something that could result in him loosing everything