IFA - VANTAGE SALES PRESENTATION

Sarah Rigg (Vantage)Anne Grundy (Vantage)Rachel Andrews (Davenports)

HMRC Enquiries & Fee Protection June 2023

• Introduction to Fee Protection

• HMRC activity

• Case studies

• How Fee Protection might help

Agenda

Vantage Fee Protect The Specialist Tax Fee Protection Provider

• Vantage was born out of the Qdos group, which started trading in the late 80’s as a tax and VAT consultancy before starting to provide Tax Fee Protection Insurance products in the late 90s
• With almost 1,500 accountancy clients, we provide a personal service, delivered by people with in-depth industry knowledge who know and understand our clients
• Our clients include Evelyn Partners, Anderson Anderson Brown, UHY Hacker Young, Crowe Clark Whitehill, BKL, Lovewell Blake and Bright Grahame Murray
• Our insurance capacity is provided by Arag, an international insurer operating successfully in 19 countries, with total revenue and premium income of €1.9 billion and employing 4,400 insurance professionals. Arag are one of the three leading legal expenses insurance providers in the world. Arag operate as a coverholder for SCOR UK Company Limited who are a global, independent, Tier 1 reinsurance company and one of the best ranked reinsurance companies in the world (A1 from Moody’s and A+ from S&P, AM Best and Fitch).

What is Fee Protection?

• Insurance to meet your costs in handling a HMRC review or enquiry on behalf of your client
• Making sure you are paid in full for the time you spend on such matters
• Protecting the client from an extra bill from you for enquiry work
• Or somewhere in between, where they refuse to pay a bill or you feel you can’t bill them for the full costs incurred for fear of jeopardising the practice/client relationship
• Opportunity to bring an extra income stream into the practice

Cover includes everything you would expect along with:

• Business record checks, inspections and interventions under HMRC’s Information & Inspection Powers at Schedule 36 FA 2008.
• Up to £250 of costs relating to an informal request for information by HMRC, by telephone or other means.
• Inheritance tax / Probate return enquiries.
• Stamp Duty and Stamp Duty Land Tax Enquiries.
• National Minimum Wage / National Living Wage enquiries.
• Child tax credit enquiries.
• Student Loan enquiries.
• Gift Aid enquiries.
• Companies House confirmation statement enquiries.
• Enquiries into Scottish taxes.
• Auto enrolment return enquiries (where you have been engaged in this respect).
• Code of Practice 8 investigations (provided there is no dishonesty or fraud).
• Checks into the measures introduced to protect the economy through the Covid 19 outbreak, including the Job Retention and Self-Employment Schemes.

The cover

• Unlimited access to our technical support team for Tax/VAT matters by both telephone and email
• A range of useful scheme marketing materials to help promote the service to clients to ensure maximum tax up/any mark up to the practice
• CPD accredited update webinars put together by Tolleys specifically for Vantage clients
• Unlimited calls to our legal advisors for employment law, health and safety matters and general legal advice (this is also available to your clients to use)
• Access to our HR portal for guidance/templates (for the practice only)
• 2 x free IR35 contract assessments per year

Other Benefits

• Nudge letters including the ‘Pandora Papers’

• VAT repayment claims

• R & D tax credits

• Aspect enquiries including EIS, Property, CGT and Business Asset Relief

What we’re seeing….

• Our senior claims handlers have over 45 years’ experience as Tax Fee Protection claims handlers.

• Our claims team can give you guidance and an immediate decision.

• Our Claim Portal allows you to make, manage and view claims at the touch of a button.

• Most claims are authorised within 24 hours of receipt, or 48 hours at the latest.

• Claims payments are run on a weekly basis.

The Claims Service

• Arrange a meeting with Sarah Rigg

• Fee Protection can be offered on a whole practice or optional basis…you decide

• Decide on the start date

• We provide all of the scheme marketing materials/assistance

Getting started….

07710 163892srigg@vantagefeeprotect.com

Questions