PEI Lapsed in April not able to renew
Held Professional Expense Insurance since circa 2005 (and also Survive 35 Insurance for a time) almost continuously when it was Abbey Tax . Never made a claim. Was introduced by my accountants originally.
For last 3 years have not received renewal reminders. Last year asked why - response was "Whilst we do endeavour to send out reminders there are the odd occasions when this is overlooked for which I apologise in advance. I have made a note on the system to ensure a reminder is sent out before expiry. Fortunately as HMRC have not raised an enquiry as yet and you have valid PEI now there is no need for concern. If it is found to be an error on our part then we will deal with the situation as it arises."
This year did not receive reminder either - sent an email 15 Apr that I wish to renew my PEI insurance. No response or action. So followed up with a call 19 Apr. Patiently read out my name, company name, post code and scheme number etc to the advisor - she said I will receive a call back but I did not.
My policy has lapsed on 18 Apr and my company in liquidation - and I am without PEI insurance after so many years probably when I need it most - since I have disengaged my accountants and they will not be able to use their insurance to defend any HMRC enquiry.
Further Developments:
30 Jun - Surprise! Email received "Please note that our records indicate you have not renewed your PEI and it expired 18/04/2022. If you would like to renew this policy please fill out the attached form and return it and make payment to the account found at the bottom of the application."
I responded by saying I did sent an email close to date of renewal requesting renewal and followed up with a call on 19 Apr day after policy lapsed.
Response - I apologise for the experience that you had while trying to renew your policy with us. I will investigate this further on your behalf as this is certainly not how we operate...."
Lets see..