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Fee Protection Insurance

Clients fee protection insurance in case of HMRC investigation

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Can someone recommend Fee Protection insurance company for individual client's ?Most of the clients are not interested so we will take fee protection for individual clients based on the risk assessment.Which one is better-Tax Insider or PFP?

Your response would be highly appreciated.Many thanks in advance.

Replies (12)

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By Paul Crowley
23rd Aug 2021 13:19

We use PFP
Not had any dealings with Tax Insider
We charge a fee with VAT on to those who join in, but do a whole practice policy.
Admin on a client join only takes a lot of time.

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Replying to Paul Crowley:
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By Rubina Anjum
23rd Aug 2021 13:34

Thanks Paul
How good is their adviser helpline.

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Replying to Rubina Anjum:
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By Paul Crowley
23rd Aug 2021 13:46

Not used it for at least three years, so I cannot really comment.

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Glenn Martin
By Glenn Martin
23rd Aug 2021 14:21

We use Taxwise we have a practice wide policy.

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Replying to Glennzy:
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By Rubina Anjum
23rd Aug 2021 16:05

Many Thanks Glenn!

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By groundy
23rd Aug 2021 16:44

We were with PFP but changed to Markel much better rates and better support. Also have a company wide policy but did start with a client by client policy until we added enough clients to the policy to make it worthwhile switching.

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Replying to groundy:
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By Rubina Anjum
23rd Aug 2021 17:02

Exactly I’m also planning on the similar lines..looking to start client to client basis before switching to entire company policy.

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By Winnie Wiggleroom
23rd Aug 2021 17:00

Another vote for taxwise (well croner taxwise to be precise), we faffed around with one on a client by client basis but tbh the benefits we get from a practice wide one is much better we just include it in the fees, probably call the helpline at least once a month as well

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Replying to Winnie Wiggleroom:
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By Rubina Anjum
24th Aug 2021 09:56

Thanks Winnie
Now i have some basic guidelines to speak them.

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By Matrix
24th Aug 2021 18:09

We use Vantage and insure on a client by client basis and still get to use the helplines. They are very good.

TaxWise helplines also good but we had to move as they would only insure the whole practice and the take up was too poor.

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Replying to Matrix:
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By Rubina Anjum
24th Aug 2021 19:33

Hi Matrix
I was reading somewhere that Vantage fee protection is available to ICPA members at competitive rates.

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Replying to Matrix:
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By JD
24th Aug 2021 21:05

Another vote for vantage on practice wide basis, with helplines and cpd training webinars

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