Throughout the annals of history, many significant happenings have taken place in August. The Perseids metor shower. International Clown Week. The birth of Lawrence of Arabia. The death of Elvis Presley. National Chop Suey Day. Despite such a momentous month hardly needing any further excitement, we threw caution to the wind and last week hosted the inaugural Kingsbridge Pottery Festival. To those who may previously have considered the insurance industry to be stuffy, boring, or strait-laced – consider yourselves forever rebuffed. Needless to say, much fun was had by all.
Between bitter leadership contests, attempted coups, police shootings, and a series of appalling terrorist attacks it’s no surprise that some things get lost in the news cycle of today. As such, you could be forgiven for missing the current upheaval surrounding the so-called ‘Sharing Economy’ and the brewing media-storm around the rights of those who choose to work within its borders.
Whether you set yourself up as a Limited Company or as a Sole Trader, looking after your financial records is vital to ensure you pay appropriate Income Tax, National Insurance, VAT, Corporation Tax, Student Loan Repayments or anything else that may be applicable to your situation. We’ve taken a look at what constitutes best practice so that you can make sure you pay the right amount and don’t face any repercussions for underpayment.
Earlier this month we covered our sponsorship of two great undertakings by two different groups of people: Pennon’s trip from John O’Groats to Land’s End, and Giles Derry of Dunedin’s mammoth journey across Italy and into France.
We recently received a nice letter from the lovely people at Pennon letting us know how exactly they got on.Read more
The UK contractor industry overall has seen a sustained period of growth over the last few years, with the number of contractors reaching never seen before levels, and making a huge economic impact. The reasons for this are well documented already, with key factors being people creating their own jobs after the economic crash, as well as people becoming increasingly aware of the benefits of a strong work-life balance.
But exactly who are the people and industries fueling this growth?
At Kingsbridge, we’ve recently made some changes for the better to give contractors even more comprehensive insurance cover.
Previously, our Professional Indemnity cover was offered in the aggregate. However, for policies starting from 1st July onwards we have now improved this by changing the basis of cover to ‘any one claim’. This is great news for contractors, but what does this mean to those not fluent in insurance-ese?
Here, we outline the difference between ‘in the aggregate’ and ‘any one claim’ when it comes to our contractor insurance in order to make a clear distinction between the two.
Kingsbridge are delighted to announce that we have agreed to partner with Zurich Insurance Group from 1st July 2016 onwards. By combining their world-renowned insurance expertise, strong financial rating and global brand visibility with our second-to-none contractor cover we will be able to look after our clients better than ever before, whilst also continuing to grow as a business.
Working with Zurich has allowed us to improve the limit on the Professional Indemnity portion of our insurance package. The limit will no longer be in the aggregate, but will instead operate on an ‘any one claim’ basis with no extra cost involved. For policies starting from 1st July onwards, any Professional Indemnity claims made will now be covered up to the limit selected by the policy holder each and every time a claim is made.
Going forward it’ll also allow Kingsbridge to cover a wider range of occupations, and gives us the ability to broaden the scope of the products we can offer significantly.
Zurich is one of the world’s largest insurance groups, and one of the few to operate on a truly global basis. With over 55,000 employees serving customers in more than 170 countries (including 11,000 in the UK), our clients will be safe in their hands. We look forward to a long and fruitful relationship as Kingsbridge continues to develop and progress.
It used to be the case that once you’d found the right person for a position then your duty as a recruiter was complete. You and your end client would move onto fulfilling the next role, but as terms become more and more onerous in the contract space there’s a few important points regarding insurance that you need to be aware of.
Whilst many of the staff here enjoy a physical activity or two, it’s a sad fact that most of us spend our days seated (whether in a car or at a desk). As such, it was a pleasure to live vicariously through the Herculean efforts of two groups of cyclists closely affiliated with Kingsbridge recently. We were delighted to sponsor both the 3 Cycling Amigos of Pennon Group on the well-trodden but still fearsome path from Jon O’Groats to Land’s End, as well as our good friend Giles Derry of Dunedin and his crew Lost! Again on their almighty journey from Locorotondo in Italy to St. Tropez in France.
In the event of the UK public’s decision to leave the European Union, Kingsbridge would like to put on record our thoughts. In a recent survey conducted with our contractor client base the majority of those questioned preferred to remain in the EU. As we now know, this will not be the case. Nevertheless, we do not foresee a British exit having any major impact on our clients, all of whom are headquartered/based in the UK.
Many contractors that we spoke to were forthright in their belief that their unique skillsets and job suitability will remain in demand in the event of a Brexit, and we support that assertion. As one particular respondee noted: “The right skills are always required.”
With regard to our corporate and commercial clients, we see no major impact to the UK water industry in the immediate future, although there may be less regulation over time once a Brexit is complete. For the insolvency practitioners we work with we also expect very little in the way of change.
Whilst it is difficult to predict the consequences, positive or negative, of a Brexit at this early stage Kingsbridge will stand behind all of our clients and partners whatever the future holds. Over time we may see some large employers and users of freelance contractors (banks, the aerospace industry, the automotive industry and so on) impacted by loss of business which may in turn have an impact on their use of contractors, but it remains too early to tell. The freedom to set our own terms that a British exit allows our country could well lead to an economic landscape stronger than we have ever experienced before.
Kingsbridge will continue to watch as this historic, once-in-a-generation event unfolds, and we will support every single one of our clients as required.