Fee protection - to offer or not?
I know this is a regular question that is raised. It is certainly one that I have a perenial problem with.
I have been in practice now for 6 years and to date I have gone down the route of not offering fee protection to clients. I have had minimal enquiries over this period and I have largely absorbed the work/costs arising. I am not sure whether I have just been lucky so far with the number of enquiries to date.
I have never been a fan of this type of insurance but it does get raised occasionally by clients so I see it as my duty to keep it under review. I also get bombarded with offers from firms promoting the protection.
I wonder how many other accountants in practice there are like me with this ongoing dilemma of whether to offer it or not. It would also be interesting to learn from those that do offer it, how many wish they could now cease to offer it?
- Am I the only one who finds this annoying 1,171 41
- Flat Rate VAT 244 8
- Sage Drive Queue.dta file lock out 705 15
- Practice software 1,183 17
- Starting your response in the subject line of the form 310 7
- When to register or not for PAYE 535 11
- Invoicing for monthly clients 492 8
- Seeking advice: With recruitment agencies for temporary placements, is VAT taken off the whole sum received from the client, or just what the company retains? 235 5
- How do you pay Inheritance Tax when HMRC haven't demanded it 569 8
- Redundancy pay 323 9
- Final CT Return - liquidating company 235 2
- VAT on farm machinery sold 263 5
- Servicing AE fees 184 2
- VAT Receipts 275 8
- Changing pay dates on Moneysoft 167 2
- P800 problems again 121 1
- Company accounts for £350 992 27
- Directors Loan Account Question 443 12
- Setting up a Charity Trust?? 158 4
- Seeking advice: Osetting Directors Loan at Startup 238 5
- FRS 101 Software 338
- Motor Traders Assistant Bookkeeping Programme queries 308
- Continuity of practice-ACCA 299
- Tracesmart/Lexis Nexis AML software? Any opinions? 274
- French ConnectionUK 241
- Fundraising for friend - minimise tax? 217
- Can anyone explain Indian Minimum Alternate Tax 204
- Recommended International mobile phone coverage and costs? 202
- APN's 187
- Penalties for late filing of P11D forms 184