What we believe

Self Assessment has given the Inland Revenue sweeping powers to investigate the tax affairs of all businesses and individuals. Targets have been set to collect more tax in 76% of detailed enquiries. This has resulted in a 48% increase in the amount of tax, interest and penalties being collected as a result.

All businesses and individuals who submit a tax return are at risk of an enquiry. It is wrong to assume only the dishonest or the "big fish" are selected. Some cases are even selected completely at random. This means no one is safe!

What can be done

An Inland Revenue enquiry can be a very long and stressful experience. The services of an experienced accountant or tax advisor can help you a great deal. Their assistance can save businesses not only time and stress but also reduce any eventual settlement and reduce any financial loss to the business.

But there is a cost. The accountancy fees necessary can run into thousands of pounds. A number of taxpayers have felt forced to accept an unfair settlement as they cannot afford to fight their case.

For as little as a few pounds a year you can take out an insurance policy that will settle these costs up to £75,000 per claim. You can fight your corner!

Professional Fee Protection

PFP was formed in 1985. It has developed a reputation as a leading and innovative firm in providing fee protection policies. We have produced a policy which gives maximum levels of cover at competitive prices. We have a flexible approach which means cover can be provided for a number of different scenarios. This ensures our customers are provided with exactly the right policies to meet their requirements.

PFP believes in providing the very best levels of service to our customers in terms of our administration and also our claims handling. It is important to us that our customers are happy and we undertake customer surveys on a regular basis to ensure this is the case.

Should a customer be picked up for enquiry, PFP will look to authorise cover for the customer’s own accountant to act on their behalf. At all times during the enquiry the acting accountant will have access to a dedicated team of accountants and tax professionals who can give advice if necessary. We like to ensure the best possible result is achieved for our clients. To this end we try and establish good working relationships.

Cover can be obtained either through an accountant or direct from PFP. This insurance could save you money and potentially save your business. Don’t wait until it’s too late, to find out further details contact PFP on 0800 783 2040, by email at info@pfp.uk.com or on their website www.pfponline.com