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UK Tax Investigation Insurance: Market Dynamics, Affinities and Partnerships is a report investigating the market for tax investigation insurance in the UK. Key features include: an outline of market drivers and the value, growth and segmentation of the market from 2010 to 2014; quantification and commentary concerning the segmentation of policies in force by distribution channels used to buy them in 2014; estimates for underwriter market shares in 2014; a comprehensive listing of major affinity and partnership marketing relationships visible at the time of the research in 2015 for these types of policy; and forecasts for the value of the market up to 2018.

Tax investigation insurance, sometimes referred to as fee protection insurance (or ‘IR35 insurance’ in the case of freelance contractors) is defined in this report as insurance cover acquired by businesses to protect against the potential costs incurred as a result of tax investigations conducted by HMRC. This report is only concerned with tax investigation insurance when sold as a stand-alone product, thus excluding legal protection insurance as a broader category, although it may be possible to use that type of policy to cover some of the legal costs related to a tax dispute.

In keeping with 19 other studies in this series, research processes and sources used to create it include the following: primary interviews with leading brokers, underwriters and affinity / corporate partners active in this field; in-house data drawn from other Finaccord reports; and comprehensive analysis of secondary information from a diverse range of data sources including UK government departments and financial regulators, relevant lifestyle organisations and trade associations, specialist publications and published disclosures by competitors active in the market.

Table Of Contents

UK Tax Investigation Insurance: Market Dynamics, Affinities and Partnerships
TABLE OF CONTENTS
00 EXECUTIVE SUMMARY 1
10 INTRODUCTION 3
What is the report and the rationale for it? 3
Methodology 3
Definitions 3
Tax investigation insurance 3
Operating models 4
Partner table syntax 4
Finaccord 5
UK affinity and partnership marketing publications 5
UK market research publications 5
UK consumer research publications 6
20 MARKET ANALYSIS 7
Market drivers 7
There are more than 55 million small enterprises with an annual turnover below GBP 5 million 7
Market size and growth 8
The market for tax investigation insurance has been growing at a compound annual rate of over 4% 8
Distribution channels 10
Accountants and accounting firms are likely to distribute the majority of policies in this sector 10
Key intermediaries include PfP, Qdos and Taxwise… 10
… with Abbey Tax and Irwell Insurance prominent among underwriters 11
Affinities and partnerships 11
Distribution partnerships for tax investigation cover exist in a variety of different categories 11
Market shares 14
Six underwriters are likely to hold a market share in this sector of at least 5% 14
Market forecast 16
Further steady growth is predicted for the UK's tax investigation insurance market 16
LIST OF GRAPHICS / TABLES
00 EXECUTIVE SUMMARY 1
Key market data for UK tax investigation insurance, 2010 to 2014 2
10 INTRODUCTION 3
20 MARKET ANALYSIS 7
Number of eligible enterprises in the UK, 2010 to 2014 7
Number of eligible enterprises in the UK, 2010 to 2014 (table) 8
Gross written premiums for tax investigation insurance in the UK, 2010 to 2014 9
Segmentation of distribution channels used for tax investigation insurance in the UK, 2014 10
Affinity and partnership marketing relationships for tax investigation insurance in the UK, 2015 12
Affinity and partnership marketing relationships for tax investigation insurance in the UK, 2015 (continued) 13
Affinity and partnership marketing relationships for tax investigation insurance in the UK, 2015 (continued) 14
Estimated market shares of underwriters of tax investigation insurance in the UK, 2014 15
Estimated market shares of underwriters of tax investigation insurance in the UK, 2014 (table) 15
Gross written premiums for tax investigation insurance in the UK, 2018 (forecast) 16

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