In a PII market (Professional Indemnity Insurance) worth £3.3 billion, Premium Credit is giving law firms the option to spread the cost of renewing their cover over convenient monthly instalments rather than having to pay in one, annual lump sum.

With FCA-regulated firms continuing to receive invoices for this year’s FCA fees and levies, Premium Credit is offering businesses a finance facility to spread the cost over convenient monthly repayments rather than having to pay in one lump sum.

Some 36% of accountants and financial advisers have seen their cashflow worsen over the past 12 months, compared to 29% who say it has improved. One in three (33%) expect their cashflow to deteriorate over the next year, compared to 31% who expect it to improve. This is according to a new study* from Premium Credit, which through its Fee Plan enables accountants and advisers’ clients to spread the cost of fees they owe to them over a number of monthly payments.

In a new study from Premium Credit, a leading provider of finance for companies and business owners tax bills, 54% of accountants and financial advisers cite the cost of living crisis as one of the main three reasons why clients are struggling to pay their tax bills. This was followed by 50% who said clients have seen their revenue fall, and 49% who cited personal circumstances of clients such as divorce.

Premium Credit is offering an instalment solution for credit brokers’ customers needing to pay tax bills during the current self-assessment season.

With the FCA currently sending invoices to regulated firms for annual fees, Premium Credit is providing a finance option to cover the cost. This allows firms to spread the cost over monthly payments, which can help them manage cash flow.