26 September 2017

The Accountant’s Circle Tax Fee Protection Scheme

A tax enquiry could cost your client their business... and cost you your client’s business!

“The Accountant’s Circle Tax Fee Protection Scheme” is a strategic alliance with PFP designed to help members provide better cover for their clients and increase practice profitability. PFP pioneered tax investigation fee protection insurance in the UK and has been supporting and working with thousands of accountancy practices across the UK for over 25 years, longer than any other company. Founded by a chartered accountant for accountants, PFP is the only major company in the UK to specialise in fee protection. Their market leading schemes have been designed to appeal to every type of practice however big or small they might be.

Tax enquiry work is the single biggest cause of fee dispute as clients often don’t appreciate the work and costs involved. The costs of a tax enquiry can be considerable and in the current economic climate, can put enormous strain on the finances of your clients and their ability to pay you on time.

Everyone is at risk of being selected:

  • every business and individual is at risk of investigation by HM Revenue and Customs who collect additional tax in over 80% of cases they investigate;
  • clients are now more aware of fee protection schemes - and they may challenge you for not offering this essential cover;
  • HMRC is becoming more aggressive in its investigations, which is why it’s more important than ever that your clients have the right scheme to meet their needs. They don’t have to give a reason for investigating and have the power to make unannounced visits at any time to your clients!

Why should your practice work with The Accountant’s Circle Tax Fee Protection scheme:

      1. We offer the widest protection in the marketplace
      2. We offer the lowest prices in the marketplace
      3. We can significantly increase the profitability of your scheme
      4. We provide the best marketing support and advice

Request an information pack or get an obligation free quote today!

To request a callback to discuss an obligation free quotation you need to log in (above) or register free first below. Note that our business members also receive a 10% discount on all quotes!

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Flexible policies to suit your practice

PFP pride themselves on offering the most comprehensive cover in the marketplace, and this is why The Accountants Circle have partnered with them to offer you a great package.

There is an indemnity limit of up to £100,000 for any one claim!

Your policy can cover:

  • full and aspect income tax enquiries;
  • full and aspect corporation tax enquiries;
  • VAT disputes;
  • Intervention Notices;
  • Pre-dispute cover;
  • Employer Compliance Disputes (PAYE/P11D/NIC);
  • IR35 disputes.

FSA regulations

  • you don’t have to be FSA-registered or hold a Designated Professional Body (DPB) licence to offer one of our practice insured schemes.

Practice Insured Scheme

  • your practice is the insured party - you recover the cost from clients by charging subscriptions to a ‘tax investigations service’;
  • you’re the policyholder, and the way the service operates is for you to decide;
  • you set the level of subscription and decide how and when to collect;
  • the premium payable to PFP depends on the number of clients that join - it doesn’t have to include all clients, it can be on a ‘clients’ decide’ basis;
  • there’s no minimum number requirement - discounts rise as the number of clients using the service increases;
  • the scheme is flexible to operate - your clients benefit from your policy without having to deal with an insurance company;
  • we can provide personalised marketing literature for you to use.

We can do all the admin for you!

  • we can deal with all the documentation, your practice can have no administrative burden – we can send an initial mailshot from PFP on your behalf;
  • you can add whatever mark up you require to the base premium - we’ll print application forms showing the total amount due;
  • your clients will deal directly with us when they join your scheme - they’ll send all forms and monies to us;
  • we’ll send you a monthly cheque, along with a client listing.

Bespoke schemes

  • you may prefer a bespoke scheme with different levels of cover and a tiered pricing structure;
  • we can arrange a scheme that precisely fits the needs of your practice.

Client insured schemes

  • your client is the insured party – they are invoiced directly by PFP;
  • the premium paid to PFP depends on the size and type of organisation;
  • there is no minimum number requirement;
  • we can provide marketing literature for you and mail your clients if you so wish;
  • all administration can be dealt with by us.

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