Do I need employers' liability insurance?
For most employers, it is mandatory to have at least £5 million of employers' liability cover, or face a fine of up to £2,500 per day. There are some exceptions to this rule, however: most public organisations and businesses that only employ close family members (as long as they're not incorporated as limited companies) don't necessarily need to have employers' liability insurance.
For most employers, it is mandatory to have at least £5 million of employers’ liability cover, or face a fine of up to £2,500 per day. There are some exceptions to this rule, however: most public organisations and businesses that only employ close family members (as long as they’re not incorporated as limited companies) don’t necessarily need to have employers’ liability insurance.
Free 20 minute accounting support to discus your business insurance needs.
Use our limited company take home pay calculator to instantly determine your net income after corporation tax, dividend tax, and National Insurance contributions. Simply input your company profits and desired salary/dividend split to see exactly how much you'll receive as a director, helping you optimise your tax-efficient extraction strategy.
This is our ultimate business insurance guide. We help walk through the specific business insurance elements you may need to consider for your business as well as relevant partner offers.
