The Copperfield Plan insures you – the Accountancy Practice – for the costs which you incur in dealing with an HMRC investigation on behalf of one of your clients, up to the
We believe that our record in paying claims is second to none. The insurance is underwritten
by Ageas Insurance Ltd and the contract is between you and them.
We do not require all your clients to participate and premiums are paid only in respect of those who do. You pay a premium only in respect of those clients who agree to pay you a specified additional fee, which is determined by you. In return, you undertake
to work for them on investigations instigated by HMRC free of charge, up to the limit of cover.
Premiums are paid monthly on the basis of receipts from clients. In other words, you do not pay until you have the money for the service from your client.
There is no initial premium to pay and the scheme is therefore cash flow positive and financially risk free.
FREE RETROSPECTIVE PROTECTION
Another unique feature of the Copperfield Plan is that for new practices joining the Plan, retrospective cover is provided free of charge in respect of all participating clients.
NO "DISHONESTY EXCLUSION"
Many Fee Protection Insurances exclude claims if your client has been dishonest in supplying information on which the accounts are based.
The Copperfield Plan contains no such exclusion and therefore the culpability of the client does not invalidate your claim for the cost to you of providing “free investigation services”.
INVESTIGATION HANDLING AND CLAIMS AUTHORISATION
We expect your Practice to represent your client in any investigation. However, we have an experienced backup team who are able to assist you, but only if requested. There is no charge for advice given.
We authorise all valid claims at the start of the investigation, up to the policy limit. You thus have complete assurance at the outset that you will be paid for your work at your normal charge out rates.
Unlike some other fee protection schemes, we do not authorise claims in a piecemeal manner as we do not believe it is possible to quantify the final cost at the outset. You are not burdened with scheduled reports and requests for authority to carry out the next stage of the work, with inevitable delays.
A free tax helpline is provided for our Insured Accountancy Practices. This is not restricted to matters relating to an insured investigation. Advice comes from a team with many many years experience in senior roles in HMRC.
SERIOUS CIVIL INVESTIGATIONS INCLUDED
Unlike many of our competitors such investigations are not excluded from the policy cover on the grounds of suspected dishonesty or fraud by your client.
ASPECT COVER AVAILABLE IF REQUIRED
Aspect enquiries are not covered by the basic policy but can be included for a small additional charge.
Q. Does the Accountancy Practice have to be FCA or DPB registered?
A. No. You are purchasing insurance, not selling it. Copperfield is of course, FCA regulated.
Q. Is cover limited to accounts investigations?
A. No - PAYE, VAT and DSS investigations are automatically included.