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?
- Statutory Residence Test - is HMRC Guidance wrong? 1,059 8
- Virtually Impossible 143 2
- Are these allowable capital expenditures for a jewellery retail shop? 249 4
- Newly Started Practice 531 12
- SSP days and Holidays 106 2
- Are accountants keeping up with the pace of change? 484 6
- Is a property owner charging a peppercorn rent to a limited company acceptable 324 7
- error on companies house accounts 494 14
- Any Answers changes - feedback required 3,502 113
- Is there a reporting requirement? 128 1
- Clients 372 6
- Home to Office 243 5
- Investment property? 172 3
- Property income 144 2
- VAT rules on Compensation invoice to EU company 98 3
- problems getting through to the ACCA technical helpline 230 5
- Commission on holiday accrual 166 2
- Benefit in kind calc, s.106 ITEPA 212 4
- VAT reclaim on costs incurred for VAT exempt services 126 1
- IR35 calc - which months' E'ees NICs and PAYE to include? 152 3
- QROP pension input amounts 485
- HMRC BENCHMARK EXPENSES 457
- write off loan or loan to equity swap or both 427
- Sole trade business in UK, but the owner works from EU 274
- EPS and CIS deductions 273
- Construction CIS LLP Company 256
- Stamp duty on house transfer between spouses 222
- SAGE winforecast 189
- Managing deliberate defaulters hmrc 182
- LIVE: Budget aftermath webinar 174