I mistakenly posted this in the general forum earlier, but it is really a careers issue. I am thinking about becoming a self employed consultant and am researching overheads etc. The PI insurance is a concern for several reasons (including, potentially, the need to continue cover for years after retirement just in case! - perhaps with no tax relief to soften the blow after you cease trading?) It occurs to me that few consultants are prosecuted, does the same apply to civil suits? The question of competence is an issue and the likelihood of slipping up, although even the best of us can miss something. There is the question of cover. You could take cover of £1 million, be sued for £1.5 million, and still be ruined. It occurred to me that a limited company might be less exposed? Of course, directors can still be prosecuted, but their assets are outside the company, so does this provide a layer of protection? This is probably my main concern about self employment, so any views are appreciated. In every other way I am ready to take the step, as working in the back stabbing, toxic environment of a council (the one I work for anyway) is just intolerable.
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Taffie,

Before you jump out of your current position into the "fire" I would look at some of the posts made by ClaireL who became a consultant in Yorkshire and has left the H&S industry because she found it hard to get clients at this time.
I am not saying don't do it I am saying research and try to get clients before you do.

Take Care