Client Cover

Under this method the client remains the insured.  The scheme may be operated in two ways with either PFP or the accountant undertaking the administration.

PFP Administered

Under this method the accountant will inform his clients about the policy.  (We can carry out the mailshot if required).  The client is sent an application form and policy summary.  The form and payment is returned direct to PFP in the prepaid envelope.

PFP sets up the policy, issues the relevant documentation and deals with all renewals. 

The accountant receives a list of all those who have taken out cover and an agreed commission.  The level of commission is agreed in advance and at a level requested by the accountant. 

The premium levels depend upon the cost profile of the practice and the number of clients joining.

An Accountant does not have to be DPB/FSA Authorised to operate this type of scheme.  However, if they are DPB/FSA Authorised they may actually make a stronger recommendation to their clients to take out the policy.  We can provide example marketing letters to help you.

Accountant Administered

PFP agree a premium with the accountant per client.  The accountant invites clients to join at a rate set by the accountant.  IPT is applied on the whole amount charged to the client but no VAT.  Again, sample letters and marketing materials can be provided.

The accountant accounts to PFP for the premium as agreed plus the total amount of IPT.  The balance is retained as profit by the accountant.

PFP are told of those joining the scheme - online if preferred.

An accountant must be DPB/Authorised to operate in this way.

Call us on 0845 307 1177 or send us an enquiry for further information about client cover tax investigation insurance.