Consultants forming companies in Ireland

Last updated: 25 August 2011

If a member is providing services as a sole trader through his company then the position in respect of MPS assistance remains unchanged

MPS has had numerous calls from consultants in relation to the incorporation of doctors, normally for advantageous tax purposes. Members have been rightly concerned about any adverse effect in respect of Clinical Indemnity Scheme (CIS) cover for the treatment of private patients. We are pleased to advise consultant members that the State Claims Agency has now issued a statement which can be accessed via their website.

As a result of this, MPS is pleased to reassure members whose medical practice on incorporation has not changed (for example, the new company is not employing any healthcare professionals or entering into contracts with third parties) that the formation of a company for financial purposes only will not affect their personal membership of MPS and they will be able to continue to seek assistance from MPS should they encounter any medicolegal difficulties in their clinical practice. In other words, if a member is providing services as a sole trader through his company then the position in respect of MPS assistance remains unchanged.

Should you have an existing company, or are considering forming one, and the company intends to employ individuals or engage with anyone outside the company to carry out work on its behalf, then additional corporate insurance cover may be required.  If this is the case then MPS Risk Solutions Ltd – an insurance company and a wholly owned MPS subsidiary – may be able to provide such corporate cover.

Any member of MPS concerned about the effect of these changes on their membership should contact the Membership Helpline on 1800 509 441.