about enquiry insurance

about enquiry insurance

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I have heard that some practiices offer its clients insurance against Inland Revenue enquiries and the resultant fees that can be incurred. How is this insurance obtained, and roughtly what premiums are we looking at per client?
Are there some organisations we can contact and what experiences do others have regarding this field?

Any info on this subject would be very helpful
Stephen Payne

Replies (9)

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By vbabla
21st Feb 2004 22:31

www.qdosconsulting.com

Hi

Last year you enquired about Tax Enquiry Insurance for your firm.

If this year you are considering cover again I would like to bring to your attention the benefits provided by Qdos Consulting.

We provide one of the most comprhensive schemes in the market place. Aspect Enquiry cover is included as standard without a hike in premiums, additionally we include the personal returns of directors and partners with the Business Client Premium. We offer a very simple claims process and a premier advice line both for your firm and its clients.

I would be happy to offer exisiting client details in your area who would be happy to disucss their experience with Qdos.

If you wish for more information please view our website www.qdosconsulting.com or contact me below.

Thanks

Vee Babla
Business Development Manager
Mobile: 07766 252603
Office: 01455 850000
Email: vbabla:qdosconsulting.com

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By paulgayton
21st Mar 2003 17:21

IRPC are the best for us
When I looked at all the various schemes and got quotes last year I found that IRPC were the best overall. We have had 2 claims with IRPC and they have handled these very professionally and I would still recommend them. If you want more informaation call Pat at IRPC on 01455 897153.

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By loz
19th Feb 2003 17:31

Fee protection insurance
We have used IRPC, now part of Croner CCH, for at least 10 years and have found them to have a practical approach in setting premiums based on client numbers - they don't want a full client list etc. Their claims handling has again been very practical and proactive - they even accepted a claim I made recently for a case settled 2 years ago which I had forgotten about (I think they reminded me!). Take up from clients has been consistent over the years. After fine-tuning our standard letters etc., we now make a profit every year just on recharged premiums at sensible rates, before you start to consider 100% recovery on the jobs themselves which historically would have suffered write-offs.

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By malcolmrichards
17th Feb 2003 09:50

horses for courses
Well the Marketing depts. at the top three have all responded to your request. Personaly the newly revamped policy from Professional Fee Protection Ltd ( PFP )coupled with their excellent marketing support gets my reccomendation everytime.
p.s. they are also the Underwriting Agents which is a subtle but significant difference from the others who are "Brokers" to their Undewriters.

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By AnonymousUser
10th Feb 2003 16:38

Insuring Against Tax Investigations with PFP
For further details of the wide range of schemes available from Professional Fee Protection, please telephone 0800 783 2040,or email [email protected]. Thankyou.

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By Sherlock
10th Feb 2003 13:48

A growing market
There are probably 7/10 'players' now in the PFP market. Each operates in a slightly different way, but there are perhaps three major insurance providers.

You need to research the market before undertaking cover for your clients. This will involve comparing the cover, premiums, claims procedures, conditions and exclusions of the various policies, and studying the policy document.This is not for the fainthearted. It is also good to obtain positive testimony from a current customer, and visit the insurers' offices.

This is a complicated area and (although a little out of date) I researched the market in my Chapter 20 in Tolley's Tax Investigations Looseleaf Service.

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By Abacjm
10th Feb 2003 12:40

Enquiry Fee Insurance
There are a number of providers in the market-place for this type of insurance and one that comes to mind is Pro-Guard. This is available through the ICPA (020 8385 2752) or email them at [email protected].

Although cover may be tailored to individual needs, there may be a minimum no. of clients for a subscription, < 200 clients @ £300 each pa, total £3,600 they say that they will forward a cheque for £750 as soon as you notify them of a Section 9A enquiry letter and it is validated by them. Validation consists of completing a simple claim form and forwarding it with a copy of the S9A letter. Payment is them nade within 3 weeks. It covers you for up to 5 investigations in any one year, up to a max of £1000 per investigation.

As more and more enquiries are undertaken these days, maybe this is the way to go and in the example given in their current brochure, it costs for say 200 clients, £3600 - £18 a client.

At the end of the day, it is down to personal choice as to whether you think this is a cost that your firm could absorb or pass on to the client as a positive benefit to continuing peace of mind.

There will, of course, be others who provide similar cover, and I am not connected with Pro-Guard in any way. I am just forwarding info to help you in your research.

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By anon26
12th Feb 2003 10:58

Fee Protection Insurance
If you would like to have further information on Fee Protection Insurance, please contact
Paul Mason at Abbey Tax Protection Ltd on 01788 557900 or by e-mail to [email protected]
We would be please to discuss all the options available regarding insurance and send you a full information pack.

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By AnonymousUser
12th Feb 2003 10:54

Fee Protection Insurance
As the market leaders in fee protection insurance, IRPC Taxation Services would be happy to provide you with further information. To contact us either visit our website: www.irpctax.co.uk, email: [email protected] or telephone customer services: 0808 108 0 108

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