hello as above been getting quotes for public liability insurance all was swell but one insurance company said i need employers liability insurance wtf■■?
Thease are the facts…
1.I have a ltd company
2.There are 2 directors myself and wife (60/40 share ratio to me)
4.wife helps with books gets x amount
any peeps in same situation and what have you done■■? 
No, if you are both directors and no-one else is involved in the company then you don’t need it. You would only need it if you employed someone (to do the books, for example) under a contract of employment of any sort (it doesn’t need to be a written one, though it should be).
Here’s the relevant document that tells you who needs it: http://www.hse.gov.uk/pubns/hse40.pdf
ok thanks how does it work if you have a accountant (that are not a employee of my company) but invoice me for there services. hope that makes sense thanks in advance
I’m Ltd Co; don’t have PL or EL insurance, never been asked for it, you don’t need it. Who is telling you that you do? and what are they expecting you to cover with?
Accountant - you don’t need insurance for work they do on your behalf; they have insurance for that
If they hand you an invoice then they are not an employee- they are either a company or self employed. If you pay them via PAYE etc then they are, and must be insured. So in short, no you don’t need it- unless you/your wife are planning on taking your own company to court for a personal injury!
As has been said, your accountant is purely a service provider, for which you pay a fee and charge to your company - he is not an employee so no insurance needed.
Small point but it would be worth asking your accountant about point no. 4 in your original post - if your wife is a director but is also being paid an amount for doing your books then it is important to make sure that she is being paid correctly, ie in dividends. If you are paying her a wage and deducting tax/NI then she may come under the terms of being an employee.
Herongate:
I’m Ltd Co; don’t have PL or EL insurance, never been asked for it, you don’t need it. Who is telling you that you do? and what are they expecting you to cover with?Accountant - you don’t need insurance for work they do on your behalf; they have insurance for that
I thought operating a truck would require PL insurance?
Boycie2013:
hello as above been getting quotes for public liability insurance all was swell but one insurance company said i need employers liability insurance wtf■■?Thease are the facts…
1.I have a ltd company2.There are 2 directors myself and wife (60/40 share ratio to me)
- I am employed through my company (i do the work) get x amount
4.wife helps with books gets x amount
any peeps in same situation and what have you done■■?
are you an owner/driver or a self employed driver, driving other people’s trucks?
if you are a self employed driver, you don’t need either
dew:
Herongate:
I’m Ltd Co; don’t have PL or EL insurance, never been asked for it, you don’t need it. Who is telling you that you do? and what are they expecting you to cover with?Accountant - you don’t need insurance for work they do on your behalf; they have insurance for that
I thought operating a truck would require PL insurance?
That depends… if you are OPERATING a truck - i.e. you are the owner / operator / O Licence holder, then yes you will.
If you are a self employed / Ltd Co DRIVER, then you are covered by the transport co’s (lets say Fred’s Transport) insurance, same as a Fred’s Transport employed PAYE driver would be, or an agency driver brought in for the day to drive for Fred’s Transport from say ADR Network.
Public liability insurance isn’t a legal requirement but in many industries it is expected that contractors should have it. As someone mentioned earlier you may be covered by the truck owner’s insurance whilst you’re driving it but say, for example, you left something at the back of the lorry, pallet truck for example, and someone tripped over it, or it fell over onto someone. That would not be covered by the truck insurance and because you are not directly employed then you are unlikely to be covered by their PL insurance - hence the expectation that you should have your own PLI.
I have a LTD company and have PL but not EL…I can not see the need for EL as I am the sole director. Do you have a payroll scheme in place or do you just draw income through dividends?
Herongate:
dew:
Herongate:
I’m Ltd Co; don’t have PL or EL insurance, never been asked for it, you don’t need it. Who is telling you that you do? and what are they expecting you to cover with?Accountant - you don’t need insurance for work they do on your behalf; they have insurance for that
I thought operating a truck would require PL insurance?
That depends… if you are OPERATING a truck - i.e. you are the owner / operator / O Licence holder, then yes you will.
If you are a self employed / Ltd Co DRIVER, then you are covered by the transport co’s (lets say Fred’s Transport) insurance, same as a Fred’s Transport employed PAYE driver would be, or an agency driver brought in for the day to drive for Fred’s Transport from say ADR Network.
Fair enough, thanks for the info
Lusk:
I have a LTD company and have PL but not EL…I can not see the need for EL as I am the sole director. Do you have a payroll scheme in place or do you just draw income through dividends?
not as yet but will be paying myself and wife paye then rest in dividends.
Herongate:
dew:
Herongate:
I’m Ltd Co; don’t have PL or EL insurance, never been asked for it, you don’t need it. Who is telling you that you do? and what are they expecting you to cover with?Accountant - you don’t need insurance for work they do on your behalf; they have insurance for that
I thought operating a truck would require PL insurance?
That depends… if you are OPERATING a truck - i.e. you are the owner / operator / O Licence holder, then yes you will.
If you are a self employed / Ltd Co DRIVER, then you are covered by the transport co’s (lets say Fred’s Transport) insurance, same as a Fred’s Transport employed PAYE driver would be, or an agency driver brought in for the day to drive for Fred’s Transport from say ADR Network.
dont have my own truck just offer my services to agencies…
Boycie2013:
Lusk:
I have a LTD company and have PL but not EL…I can not see the need for EL as I am the sole director. Do you have a payroll scheme in place or do you just draw income through dividends?not as yet but will be paying myself and wife paye then rest in dividends.
Hopefully there will be enough in it to pay dividens but as long as you pay enough NI for later life, you will be fine.
Lusk:
Boycie2013:
Lusk:
I have a LTD company and have PL but not EL…I can not see the need for EL as I am the sole director. Do you have a payroll scheme in place or do you just draw income through dividends?not as yet but will be paying myself and wife paye then rest in dividends.
Hopefully there will be enough in it to pay dividens but as long as you pay enough NI for later life, you will be fine.
You might find the following guide useful - tells you the benefits/drawbacks of Ltd Co/NI etc.:
Evening
I’ve been a Limited company now for five years, only one customer has asked if I had it, but never asked to see the evidence. So I saved a shed load of money.
My accountant has never asked for it either.
I do get to play with some VERY expensive equipment in my job…
Hope this helps
Paul
sonflowerinwales:
Evening
I’ve been a Limited company now for five years, only one customer has asked if I had it, but never asked to see the evidence. So I saved a shed load of money.
My accountant has never asked for it either.
I do get to play with some VERY expensive equipment in my job…
Hope this helps
Paul
I agree, it’s the same with any insurance. I’ve paid buildings & contents insurance on my houses for 30+ years & only ever made one claim, but I still keep on paying the premiums, just in case. I cannot afford the possibility of having to pay out a large amount, possibly into the millions with the current ‘claims’ attitude in the world, so, for peace of mind I’ll pay the £100 a year for my PLI, put it down to expenses, up my rates to cover the nominal difference and leave it as one less thing to worry about… I sleep easier as a result.