New clients receive a 3 month subscription to Xero & Dext on us!
Discover why 175 businesses have voted our service as 5 star
Mitch Hahn
CEO - Nordens
• Beyond Accountancy
• World Class Accounting
• Meet The Team
• Our Culture
• Testimonials
• Trustpilot Reviews
• Join Our Team
More Than Just Accountants
At Nordens, we're more than just accountants - we're business experts who can help you achieve your biggest goals.
Get in touch today to discover how Nordens can revolutionize your business.
Discover why 175 businesses have voted our service as 5 star
Mitch Hahn
CEO - Nordens
• Accounting
• Auditing
• Bookkeeping
• Business Turnaround
• Capital Gains
• Company Tax Returns
• Construction Industry Scheme
• Corporate Finance
• Digital Transformation
• Enterprise Investment Scheme
• HR Services
• Inheritance Tax
• Management Accounts
• Payroll
• Seed Enterprise Investment Scheme
• Self Assessment
• SRA Audit
• Statutory Accounts
• Strategic Coaching
• Tax Auditing
• Tax Computations
• VAT Returns
• Workplace Pensions
View all Nordens Services
Discover why 175 businesses have voted our service as 5 star
Mitch Hahn
CEO - Nordens
• Agriculture
• Creative & Media
• Construction & Real Estate
• Franchise
• Healthcare
• Property
• Recruitment
• Retail
• Sports & Entertainment
• Transport & Logistics
• Hospitality & Leisure
• Charity & Not-For-profit
• Independent Professional Sector
Discover why 175 businesses have voted our service as 5 star
Mitch Hahn
CEO - Nordens
Discover why 175 businesses have voted our service as 5 star
Mitch Hahn
CEO - Nordens
Discover why 175 businesses have voted our service as 5 star
Mitch Hahn
CEO - Nordens
Get In Touch
02085300720
enquiries@nordens.co.uk
The Retreat, 406 Roding Lane South, Woodford Green, IG8 8EY
Looking For Someone In Particular?
View Our About Page
Any good business owner knows that protection is one of the most fundamental elements in business, no matter what industry you’re in. Insuring your business not only gives you peace of mind but also safeguards certain aspects where your company is at threat or if something bad were to happen. Business insurance is for all businesses no matter what size, from huge multi-national firms to the smaller companies which make up the backbone of the economy.
Knowing what exact types of insurance for your business is needed, what is recommended and what really isn’t essential can be hard to figure out especially with so many different insurance policies out there. Often many businesses will talk to insurance firms and purchase all manner of policies which aren’t necessarily appropriate to their sector or structure. On the other hand, many businesses choose to skip certain business insurances, seeing it as a waste of money that’s not needed. However, some forms of business insurance are required by law to legally operate in the UK.
We break down exactly what’s mandatory in the UK, whilst also advising what other forms of insurance your business may need to appropriately protect themselves.
What Business Insurance Is Legally Required?
The health and safety of employees is something of which every employer is reliable for. Because of this, Employers’ Liability (Compulsory Insurance) Act 1969 was set up to ensure that businesses have at least a minimum level of insurance cover against any such claims. Employers’ liability insurance will enable businesses to meet the cost of compensation for their employees’ injuries or illness whether they are caused on or off site.
This compulsory policy is needed for all businesses to legally operate if you have more than one employee and are situated in the UK, unless you are exempt for one of the following reasons:
Most insurance providers, including Nordens’ partner insurance firm Primassure, offer Employers’ Liability Insurance as a basic package for businesses. Businesses unwilling to purchase employers’ liability cover can be subject to fines of up to £2,500 for each day they do not have the insurance in place. The law also states businesses must have employers’ liability cover of at least £5m, with the vast majority of policies providing a cover limit of £10m as regular procedure.
As well as this, if your company uses company cars for staff members then you will need motor insurance. Vehicle insurance cover enables you to be protected against claims made by a person who is either injured or their property has been damaged in any way due to an accident caused by your vehicle. Third party insurance is the legal minimum a business or individual requires in order to drive their car. In conjunction with Primassure, Nordens offer a high-quality fleet insurance cover for a group of vehicles under one policy, as well as supercar insurance for those needing a specialist policy for high valued vehicles.
What Business Insurance Is Highly Recommended?
Whilst certain insurances for your businesses aren’t necessarily legal requirement, it is very favourable to purchase certain covers.
Property insurance and contents insurance are highly advised for if your business owns a building or property that operations are carried out in. Buildings insurance covers against the prospect of unexpected damage to the building, for example by a fire or a flood, with options to also cover against accidental damage. Contents insurance covers the possessions within a property such as electrical equipment, furniture, documents, and the possibility that these are stolen or damaged.
Public liability insurance, in similar vein to employers’ liability insurance, covers a person, a business, an event or a contractor for costs from public legal action if they are found liable for death or injury, loss or damage of property, or economic loss resulting from their negligence.
With the pandemic accelerating the so-called digital revolution even faster than expected, most businesses currently use some form of computer or data system in their day-to-day work. Cyber insurance covers the costs or loss of income of data breaches or cybercrime as well the need to repair IT systems. It can also offer protection against claims for non-compliance with GDPR (General Data Protection Regulation). Rather unsurprisingly, many insurance providers have a reported a huge rise in cyber insurance policies being taken out over the past year.
If your business, like Nordens, provides professional advice as a service or offering then you may want to consider professional indemnity insurance. This covers against the cost of defending and settling the liable claims against you for making a mistake, being negligent, or giving poor advice which has resulted in a damaged reputation or financial loss due to the advice given. In many industries, professional bodies and regulators require you to have professional indemnity insurance policy in place, these include accountancy, IT, education, architecture, business consultancy, engineering, design, construction, and surveying.
As well as this, due to the current pandemic and subsequent economic climate HMRC have reportedly launched an increasing number of tax investigations into businesses. Tax insurance protects against these enquiries into businesses, which have shown to be taken longer to investigate and therefore costing more to defend against. Nordens’ have recently partnered with tax insurance provider, Markel Tax, to offer a dedicated and high-quality tax insurance service which safeguards against the possibility of investigations from HMRC into your business. This protection also includes investigations into the Coronavirus Job Retention Scheme, Self-Employment Income Support (SEIS) payments as well as gift aid cover and stamp duty land tax.
We hope this has outlined to you exactly what insurance your business needs and what other insurance policies are highly recommended depending on your industry. If you require any more information on any insurance policies we provide with our trusted partners including Primassure and Markel, or anything accounting related for that matter, please don’t hesitate to get in contact with us at Nordens where one of our trusted advisors would be happy talking you through your query.
At Nordens, we're more than just accountants - we're business experts who can help you achieve your biggest goals.
Our specialist strategic division at Nordens boasts some of the leading entrepreneurial business minds in the country. We cater towards delivering consistent success stories, whilst helping businesses achieve above and beyond their initial goals.
Through highly-tailored guidance, coaching and advice, Nordens Strategic are able to define exactly how your business can reach new levels of success.
Regardless of how you define ‘success’ for your business, our strategic service is guaranteed to bring about real and lasting change. By partnering with some of the UK’s top business coaches, we’ll steer you along the path to a greater future.
Every business, no matter how big or small, needs to make the right decisions, and how to best manage your accounts can put huge question marks over your business. Accounting2You is here to take that pressure off and provide you with all the answers you need.
Our bookkeeping branch offers a fully inclusive, comprehensive service that you can trust. Since 2005, our specialist bookkeepers have been successfully managing the accounting of both individuals and small businesses.
With experts in payroll analysis, credit control and financial recording, Accounting2You will lead your business efficiently, and with real purpose, towards a prosperous future.
Voted as EXCELLENT - 9.9 out of 10 based on 167 reviews
Director - Metro Bank
Nordens are always very easy to deal with and extremely professional and efficient. I would have no hesitation in recommending them to my clients for their accountancy needs, no matter how complex they may be.
Co-Founder - Chicmi Limited
Very good to work with - the team go above and beyond to make the accounts easy and efficient. They're all super friendly and a joy to work with.
Director - Rose Opticians
I have been using Nordens Chartered Accountants for 5 years and very happy with the service provided. All members of the team are very knowledgeable and have a wealth of experience which has proved very beneficial to my organisation
Founder & Director - Physio LDN
Very easy to contact and put me in touch with the right person whenever I need to ask any questions. Extremely knowledgeable and can help me manage my various businesses whenever I need.
Principal - Pauline Quirke Academy
Great accountants, always available to offer advice. The team have transformed my business.
Founder - Dataphone
Having worked with Nordens over the last 5 years, not only to look after my annual accounts but they have also provided outstanding professional advice. They have guided me through a Company share buyback with clear and objective advice. We have also been using Nordens strategic services for a couple of years, which has helped bring about significant improvements that exceeded my expectations. With experience of working with several local accountants over my 29 years in business, I’m very pleased with the service I have received from Nordens.
Director - Linekers
Trusted our business with Nordens for over 10 years now and watched the company grow into the successful innovative business it has become today. Deservedly so. Every aspect of financial advice we need is always given promptly and with a smile. We have total confidence in all aspects of advice Nordens give. If you are looking for accountants, its a no brainer!
Founder - Foundation Sports Limited
A fantastic, modern, vibrant firm that care about the clients and their staff in abundance. It is rare to find an Accountancy firm with such vibrance and focus and relationships. It is no wonder they win award after award in their field.
Managing Director - Prime Time Boilers
I have been with Nordens for many years now and they are a great accountants.
Founder - Vivid Finishes
We have used Nordens for the last 5 years and have had a great service throughout. The guys are very passionate about what they do and have played a part in the growth of our company, highly recommended.
Managing Director - AMD Interior Architecture
Great Service at Nordens from a friendly very approachable team Particularly Kirsty Willis and Joe Sword who have been helping us since we started the business in 2016.
Director - Forma London
Nordens provide a first class service. We moved to Nordens last year and have been impressed with the level of service provided. Keep up the good work!
We've always got our ears to the ground when it comes to interesting, useful and topical information relating to business and accountancy.
We love making videos that break down convoluted accountancy jargon into plain-talking, actionable and accessible facts.
In November 2002, having sold our other business interests off earlier in the year, I decided to set up Nordens Chartered Accountants. The easy part was knowing how to do it, as I had established and built a smaller practice a few years earlier. The difficult part, for me, was not following the traditional accountancy path. Having run businesses, both successfully and unsuccessfully, I wanted to help business owners resolve their short term problems and work with them to achieve their longer term goals. Business has always been my interest and I love that I can help business owners achieve what seems like the impossible every single working day.
Mark Norden
Founder
Our limited company accountants have a range of qualifications from The Institute Of Chartered Accountants (ICAEW) to the Association of Chartered Certified Accountants (ACCA). We worry about the bye-laws, regulations and ethical guidelines of the ACCA so you don’t have to! That makes us an ACCA-accredited employer as well as a Professional Passport-accredited one!
At Nordens, we're committed to keeping our clients updated on all things business strategy and news. Each week we update our newsletter subscribers on what really matters in the big bad world of business. That way, you can stay one step ahead!
Call: 0208 530 0720
Email: enquiries@nordens.co.uk
Interested In Nordens? Give us a call on 0208 530 0720 or or request a direct call back anytime between 8:00am to 6:00pm!
Accounting
Contractors
Sole Trader Accounting
Partnerships
Small Businesses
Medium Businesses
Large Businesses
Global Corporations
Charities
Privacy Policy - Cookie Policy - Sitemap - Covid19 Risk Assessment
© Nordens Limited 2001 - 2022
Nordens is a trading name of Nordens Limited, a limited company registered in England under company number 04709951. Our registered office is: The Retreat, 406 Roding Lane South, Woodford Green, Essex, IG8 8EY.
Speak to one of our experts with no strings attached, free, for one hour to help you and your business.
In celebration of our 18th birthday, we’ve launched our Refer-a-Friend scheme, allowing you to receive a thank you gift from us of up to £1,000 for successfully introducing a new client.
Speak to one of our experts with no strings attached, free, for one hour to help you and your business.
If you sign up as a client we'll even provide a 3 month subscription to Xero and Dext FREE!