MIP or Not?

slackda

hi all hope you can help me,

So i have been a MAAT for the past twelve months, im looking to start out doing some freelance work, only basic items, book keeping, Tax returns Etc,
im not 100% sure on whether i need to be MIP, im in full time employment as a Management Accountant.

Do i need to Have PI cover? or if only if i become an MIP?

Thanks

Martin

T.C.

If you are working on your own (as well as the employment) then you are a self-employed person and hence, I would suggest, an MIP and therefore PI cover is a must.

lorraine

I agree with T.C. that if you are a MAAT then to work as self-employed you need to be a MIP and to have PI cover.

slackda

Guess i better get registered as a MIP then , any idea on what sort of cover i would need on the PI insurance i had a quick look yesterday and for £300 per year i can get £100,000 worth of cover, as im only going to be doing the basic's to begin with i would think this is more than enough cover? any advice on this would be great!..

Thanks for your replies!

groundy

AAT requires cover equal to 2 times or 2.5 times your turnover.

T.C.

Try www.trafalgar.uk.com - much cheaper. PI limit £100K, less than £100 a year.