We never insist that practices should conform to a specified, limited approach on setting up a tax fee protection insurance scheme. The Vantage way has always been to tailor a scheme to each practice’s specific requirements.
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Your eligible clients may be covered on either an ‘Optional’ or an ‘All Client’ basis. You are free to choose whichever is best for your practice.
Under an ‘Optional’ scheme, only those clients who pay to join the scheme are covered. If the practice collects payments from clients, Vantage is paid afterwards and the practice can never be out of pocket.
Under an ‘All Client’ scheme, the premiums payable to Vantage will be based on the total number of clients of the practice. It is then up to the practice how the costs are recovered from clients. Also, whether or not, every client is covered, or just those who pay to be in the scheme. The practice will normally pay the premiums to us by Direct Debit on a monthly basis.
Our experienced managers at Vantage are best placed to discuss the options with you. If you would like to know more then please contact us.
Vantage can provide you with compliant marketing templates and guidance that will ensure you market your scheme in compliance with the regulatory requirements. More specifically, we have templates that meet the requirements of schemes operated under following options:
The Vantage Fee Protection Insurance Policy covers numerous elements not covered by our previous provider. This means we have increased opportunity for greater fee recovery and less write off. We find their technical advice lines are answered quickly and the staff are highly capable. As a further benefit we like their online employment law portal. With over 400 current documents all backed up with a free and unlimited advice line. On the mailing side our clients receive a prepaid envelope. They can either pay Vantage direct, by cheque or join via a unique online sales portal reducing our administration considerably. We have always found the Vantage team to be helpful, friendly and professional.