Abbey Tax and VAT inspection - Cracking service

[meridian]

Many thanks Louisa.

Will your clients be receiving a written policy document detailing all benefits/ exclusions?

[Louisa@InTouch]

Yes of course, we will be providing these to all clients before the service starts from 1 October 2015.

And if you then have any further questions on the policy, then feel free to give us a call

[youngguy]

No, I'm not making a saving, I'm paying twice for the same cover, which I'd sooner not do. My other cover (IPSE+) gives me a lot more than just the tax cover, so it's not a case of simply cancelling existing cover.

Edit: FWIW, I think it's a useful offering - just that it should be optional.

I haven't looked in any detail but if that is the case then this possibly just means a rather large increase on fees for no additional benefit.

If we could cancel IPSE as we got the same cover, it would be a big plus for us and InTouch in terms of their offering above other online accountants. If that isn't the case some clients may start to wonder whether they move to one of the other online forms (Nixon Is about £95 per month for example?)

I get a very good service from InTouch btw and have no complaints so I'm not suggesting there will be a mass exodus, but price is important when the offerings appear to be very similar across the board for online accountants.

[mudskipper]

I haven't looked in any detail but if that is the case then this possibly just means a rather large increase on fees for no additional benefit.

If we could cancel IPSE as we got the same cover, it would be a big plus for us and InTouch in terms of their offering above other online accountants. If that isn't the case some clients may start to wonder whether they move to one of the other online forms (Nixon Is about £95 per month for example?)

I get a very good service from InTouch btw and have no complaints so I'm not suggesting there will be a mass exodus, but price is important when the offerings appear to be very similar across the board for online accountants.

That's the thing - there's a lot of other stuff included in the IPSE+ membership fee which you're not going to get from your accountant.

So people will either forego the other IPSE benefits and stick with the accountants cover, change accountants so they're not paying for stuff they don't use, or do nothing and pay twice (the lazy option - probably most of us!)

[WordIsBond]

That's the thing - there's a lot of other stuff included in the IPSE+ membership fee which you're not going to get from your accountant.

So people will either forego the other IPSE benefits and stick with the accountants cover, change accountants so they're not paying for stuff they don't use, or do nothing and pay twice (the lazy option - probably most of us!)

If you aren't going to use the new service, you aren't paying twice. You are simply paying more for your accountancy service, and you have to decide whether you are happy enough with it to justify paying that increase, or whether you want to save the money and change accountants.

IPSE includes things in their package I don't want. I'd gladly pay less and strip some of that stuff out. I decided the price is worth it for the things I do want.

[mudskipper]

If you aren't going to use the new service, you aren't paying twice. You are simply paying more for your accountancy service, and you have to decide whether you are happy enough with it to justify paying that increase, or whether you want to save the money and change accountants.

IPSE includes things in their package I don't want. I'd gladly pay less and strip some of that stuff out. I decided the price is worth it for the things I do want.

That's a fair way of looking at it I guess.

[Louisa@InTouch]

Just for some further clarification, if you were to go through IPSE membership, it is your responsibility to liaise with Abbey Tax first to ensure that any professional accountancy fees are approved by them, before your accountant takes over.

If you fail to do this, Abbey Tax have the right to refuse covering the costs for professional accountancy fees incurred during the HMRC investigation.

If the accountancy costs are approved by Abbey Tax, your Personal Accountant will invoice Abbey Tax directly.

If you choose to claim through Intouch, we’ll take the hassle away - by notifying your Personal Accountant as soon as you receive an enquiry from HMRC, we’ll liaise with Abbey Tax on your behalf.

So saving you time and effort, to leave you doing what you do best!

[Jessica@WhiteFieldTax]

Just for some further clarification, if you were to go through IPSE membership, it is your responsibility to liaise with Abbey Tax first to ensure that any professional accountancy fees are approved by them, before your accountant takes over.

If you fail to do this, Abbey Tax have the right to refuse covering the costs for professional accountancy fees incurred during the HMRC investigation.

If the accountancy costs are approved by Abbey Tax, your Personal Accountant will invoice Abbey Tax directly.

If you choose to claim through Intouch, we’ll take the hassle away - by notifying your Personal Accountant as soon as you receive an enquiry from HMRC, we’ll liaise with Abbey Tax on your behalf.

So saving you time and effort, to leave you doing what you do best!

Louisa makes a valid point. With IPSE cover, or indeed director over, FSB, etc, the accountant is out of the loop on matters. With cover arranged through the accountant, things are a little more seemless.

My firm uses Abbey Tax under an insurance scheme, having moved from Taxwise when Qdos split off. Having seen the frustration of some clients in dealing with the likes of Abbey/Qdos direct, mainly around communication, I believe having the accountant involved adds value and enables the client to have a better, more joint together, service.

[malvolio]

Louisa makes a valid point. With IPSE cover, or indeed director over, FSB, etc, the accountant is out of the loop on matters. With cover arranged through the accountant, things are a little more seemless.

My firm uses Abbey Tax under an insurance scheme, having moved from Taxwise when Qdos split off. Having seen the frustration of some clients in dealing with the likes of Abbey/Qdos direct, mainly around communication, I believe having the accountant involved adds value and enables the client to have a better, more joint together, service.

Although it is also fair to say that through your IPSE membership, Abbey will deal with all interested parties when a member is progressing a claim, including the accountant.

[TheFaQQer]

If you aren't going to use the new service, you aren't paying twice. You are simply paying more for your accountancy service, and you have to decide whether you are happy enough with it to justify paying that increase, or whether you want to save the money and change accountants.

I suspect that come year end, I shall be opting for the latter rather than paying yet again for the cover.

But I have until the end of November to do that, so plenty of time to consider what's the best course of action.