6 March 2017Analysis

Arc Legal introduces UK tax product for captives; appoints head

Legal and professional fees provider Arc Legal, has launched a new product offering both large and small accountancy firms a range of tax investigation insurance services.

The products provides cover for accountancy costs resulting from HMRC enquiries into a company’s tax returns.

Larger accountancy practices have access to risk-sharing option to develop cover for captives and other self-insurance models

The options available allow 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.

Accountants will have access to an online administration portal that allows a simple submission process for declaring monthly policies, and also provides assistance with issuing documents.

Furthermore, Arc Legal has also appointed Richard Hainsworth as head of tax assistance, who will have responsibility for growth and the operational development of the new products.

Hainsworth has over 15 years of tax assistance experience, having held senior roles at Abbey Tax Protection and Croner Taxwise.

“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,” said Hainsworth.

“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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