ARC TAX LAUNCHES FLEXIBLE SPECIALIST TAX INVESTIGATION INSURANCE PRODUCTS FOR ACCOUNTANTS

Arc Legal Assistance (Arc Legal), a leading legal and professional fees insurance provider, has today announced the launch of Arc Tax Assistance (Arc Tax) offering large and small accountancy firms a new range of flexible tax investigation insurance products.

The product provides cover for accountancy costs resulting from HMRC enquiries into a business or individual’s tax returns. Options are available for regulated accountants to provide insurance to their business and personal customers, and non-regulated accountants to cover the costs they incur in providing a service to handle enquiries into their customers submissions. For larger accountancy practices, there are range of risk-sharing options to develop cover for captive and self-insurance models.

Accountants have access to  a bespoke online administration portal that allows a simple submission process for declaring monthly policies. The portal also provides an innovative marketing function, assisting with issuing documents, such as quotation and renewal documentation and policy wordings to the accountants’ customers. The portal is intended to streamline the process for the accountant by removing cumbersome manual tasks. The portal will also allow full submission of insurance claims online.

Richard Hainsworth joins as Head of Tax Assistance with responsibility for growth and operational development of the new products. Richard has over 15 years’ experience in the Tax Assistance market, holding senior roles at both Abbey Tax Protection and Croner Taxwise.

Richard commented: “Arc Legal has a strong reputation of providing innovative products and services in the legal expenses insurance market, and our Tax Assistance offering will continue in this vein. We are able to deliver real service improvements responding to the specific needs of accountants and their clients through flexible products and pioneering digital platforms.”

Richard Finan, Director of Arc Legal commented: “In launching Tax Assistance, we set out with the aim of streamlining the process for accountants. Reducing policy administration to its most efficient level, saves the accountant both time and money. The provision of both off the shelf product options, and risk-sharing options for larger practices, means we can offer a truly flexible product offering for all practice types.”

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