We responded to the HMRC consultation on raising standards in the tax advice market: professional indemnity insurance and defining tax advice.
Raising standards in the tax advice market: professional indemnity insurance and defining tax advice
HMRC was seeking views on proposals to introduce a requirement for tax advisers to hold professional indemnity insurance, including minimum levels of cover, and how the policy could be enforced and implemented. BIBA and some of our leading PI insurance brokers held a virtual meeting with HMRC to give an overview from an insurance broking perspective.
Read our written response here.