Fee Protection Insurance - Professional Expenses Insurance

Professional Fee Insurance can be obtained which covers your accountant's costs in the event of an enquiry, reducing one of the burdens of an enquiry.

I do not operate a fixed arrangement with any particular insurer and so my clients are welcome to make their own arrangements and I will support them wherever possible.

Accurate record-keeping is not enough to ensure that you will not face a tax enquiry at some time.

Businesses and individuals are likely to suffer enough during an enquiry without also being faced with considerable accountancy fees on top of any extra tax, interest and penalty that become due (if tax is found to have been underpaid). Tax enquiries can take a lot of time and require the input of an experienced accountant such as myself.

Professional Fees Insurance, which ensures the recovery of professional costs incurred when dealing with a tax investigation, has been used by accountants since the 1980s. However, the need for such protection has dramatically increased since the arrival of Self-Assessment and the random enquiry.

Example Insurers (no affiliation or recommendation implied)
PFP
Qdos