Professional Indemnity Insurance for Bookkeepers
Bookkeepers handle sensitive financial data and provide services that directly affect their clients' financial records, VAT returns and tax obligations. Professional Indemnity Insurance protects your business when errors occur.
Risk Exposure
Why Bookkeepers Need Professional Indemnity Insurance
Bookkeeping services form the foundation of a client's financial management. Errors in record-keeping, VAT calculations, payroll processing or bank reconciliations can result in financial losses, HMRC penalties and missed business opportunities.
Many bookkeepers underestimate their professional liability exposure. A VAT error that goes undetected for several quarters can result in significant penalties. A payroll error affecting multiple employees can create substantial liability.
Professional Indemnity Insurance provides protection against claims arising from errors, omissions and negligent bookkeeping services. It also provides access to legal defence costs which can be substantial even where the claim is ultimately unsuccessful.
Scope of Cover
Typical Activities Covered
Illustrative Claims Scenarios
Typical Claims Scenarios
The following scenarios are illustrative examples only and are intended to demonstrate the types of claims Professional Indemnity Insurance is designed to respond to.
VAT Return Error
Systematic miscategorisation of expenses leads to incorrect VAT returns over an extended period. HMRC penalties and interest accumulate, and a Professional Indemnity claim is made against the bookkeeper for the penalties and retrospective correction costs.
Payroll Processing Failure
Incorrect tax code application across multiple employees results in underpayment of PAYE. The employer pursues a Professional Indemnity claim for the tax shortfall and associated penalties.
Proposal Information
What Underwriters Usually Ask
When we approach the market on your behalf, underwriters will typically require the following information. We guide you through this process.
Why Choose PLB
Specialist Bookkeepers PI Brokers
Sector Expertise
We understand the specific professional risks facing bookkeepers and arrange cover that responds to your actual exposures.
Market Access
Access to specialist Professional Indemnity underwriters and markets with experience in this sector.
Personal Service
Deal directly with experienced PI specialists who know your sector — not a call centre or an algorithm.
Frequently Asked Questions
Bookkeepers — Common Questions
Get Started
Request a Quotation
Complete the form and a specialist Professional Indemnity broker will review your Bookkeepers activities and contact you within one working day.