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This insurance, which covers the expenses incurred by a practice when a client suffers a revenue authority dispute or investigation, offers many benefits: • Protection from discounted or waived fees in the event of a client enquiry • Peace of mind for both the practice and the client • Confidence not to submit to revenue authority demands • An additional profit centre for your practice • Opportunity to provide 'value added' products Liz Grace says "Abbey Tax Protection's fast claims response record and no quibble approach means you can have every confidence in recommending this insurance to your clients. In 1999 Abbey Tax was the first PEI organisation to have its products endorsed by the ICAEW and currently provides endorsed fee protection services to UK200Group, ACCA and ICAS whilst the ICAEW has appointed Abbey Tax as the provider of Tax & VAT advice to Practice Society Members. Following continued business growth, Abbey Tax remains at the forefront of the fee protection industry when developing new products and services."
Press Release October 2008
Abbey Protection plc acquires Accountax, the listed supplier of legal and professional fees insurance products to SME's, in a deal worth £4.4m. 'The acquisition will give Abbey Protection an additional range of services and products to market through our own accountancy practice clients,' said Colin Davison, cheif executive of Abbey Protection. 'this deal represents an important milestone in our strategy of organic growth and the acquisition of complementary businesses, and we are confident of continued success for the enlarged group.'
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