Professional Cover: Discussion

System

What are peoples thoughts on their professional cover?

What agreements do you have in place?

What happens if you are incapacitated in any way?

Do you have a plan of action?


Basically, my professional cover is my former employer. I know he has the resources to take on my work if need be but we do not have a formal agreement in place and do not have any agreed plan of action.

My assistant and my fiancee both know to contact him in case of emergency and I would hope that he would be able to instruct them on what he needs to prevent my business going belly up, but in reality I could see this falling apart.

My former employer knows my address but has never been here. We have never discussed what fees he would charge for doing my work. My assistant currently has limited access to my internal controls. No one has access to my bank accounts if this became necessary.

I am considering making a proposal to the AAT about a complete reorganisation in how the professional cover system works (or perhaps doesn't).

I would be very grateful of peoples thoughts on this matter.

System

Re:Professional Cover: Discussion

I am considering making a proposal to the AAT about a complete reorganisation in how the professional cover system works (or perhaps doesn't).

You can have my 100% backing on this!

I cringe when I see threads on here about people asking for other members to be there professional cover.... In the event of the unknown just how is that going to work!!

I can understand the logic behind the AAT wanting MIPs to have this type of cover but for sole practitioners I just don't see how it is practical?

Regards

Dean

System

Re:Professional Cover: Discussion

Dean wrote:

I can understand the logic behind the AAT wanting MIPs to have this type of cover but for sole practitioners I just don't see how it is practical?

Exactly. And it is sole practitioners who are most at risk and in need of proper arrangements for professional cover.

Do any sole-practitioners here have formal arrangements in place in the event of incapacitation?

System

Re:Professional Cover: Discussion

deanshepherd wrote:

Do any sole-practitioners here have formal arrangements in place in the event of incapacitation?

Of course... we wouldn't have been granted MIP status if we hadn't...











(need one of those zipped faced smileys)

Regards

Dean

System

Re:Professional Cover: Discussion

I very much doubt if my "named" professional cover would be able to take over my business if I was unexpectedly unable to work. I think it is unreasonable to ask any sole practitioner to be committed to stepping into your shoes at short notice for an unspecified time; they are likely to be striving to have a full client base of their own.

I have a number of people I could call upon to help keep the business ticking over and have written up a plan of action which includes a rough guide to the procedures I would like to be put in place.

Sadly, I would not expect my business to survive long term without me.

I would welcome some guidance from AAT.

System

Re:Professional Cover: Discussion

I was not able to find someone who could be my professional cover. I have friends who are quite capable of doing my work for me if I am unable. But they did not have the PII. So I could not put their name down. I asked the AAT what to do and they suggested to me to go on the discussion forum and ask if anyone could help me. And that is how I found someone who was willing to do so. What else could I do?

System

Re:Professional Cover: Discussion

SHEELAGH wrote:

I have a number of people I could call upon to help keep the business ticking over and have written up a plan of action which includes a rough guide to the procedures I would like to be put in place.

I think Sheelagh has put into practice something that I want to recommend to the AAT.. Professional Cover Groups. It really is a lot to ask for one sole-practitioner to cover another sole-practitioners business.

I don't see any problem with asking people to be their professional cover on these forums at all. We are all here to help after all. And what's the alternative? Networking at branch meetings or MIP conferences takes a lot of time to find someone suitable - trust me, I know!

The worry for my own practice is finding the right person to be my cover and to have a good plan of action in place in case that cover was ever needed to be called upon.

Aside from finding someone suitable, what do people think should be included in the plan of action?

My thoughts (in no particular order) are:

1) Notify professional cover that their services are required.
2) Provide them with a W.I.P. list or list of impending deadlines.
3) Give them an expected timescale of your recovery.
4) Let them know what work MUST be done and what work can be pushed back.
5) Have a standard mailshot ready to send to clients explaining the situation and giving them details of their new temporary point of contact (v. important).
6) Forward copies of incoming emails to professional cover for them to monitor (perhaps).

Any other thoughts/ideas?

System

Re:Professional Cover: Discussion

Professional Cover Groups

Thats a good idea.
I hadn't thought of making it any more formal than a loose list of people who may be able to help. Groups of professionals in specific locations would give MIPs the security of knowing they are not alone in making a commitment to cover. When I was looking for cover at least half the people I asked said they were too busy to take on more work.
This would also be a bonus where a wide skill set is required - it would take the pressure off one individual if he/she had access to additional resources and support for a wide range of expertise.

Grand idea Dean. There more I think about this the more necessary it feels.

System

Re:Professional Cover: Discussion

If we had these groups, you wouldn't know these peoples competence so would you trust them working with your clients?

Regards

Dean

System

Re:Professional Cover: Discussion

Hi guys

What an interesting topic, with some really good ideas. What I think might work in practice is a co-op style of professional cover - a group of us who could all cover for each other, each with our own specialities/preferences etc - I for one love VAT and hate management accounts.

The work would be shared - fitting in an extra one or two VAT/tax returns is possible - a whole raft of them would cause problems.

With the wonders of technology and the post, it should not matter where anyone is based (I used to have to a client who was 300 miles away from me!).

Go for it Dean - I am behind you, and come 1 February I might even write down a disaster plan!!!!

Claudia

PS - wow a post with no smilies!

System

Re:Professional Cover: Discussion

Dean wrote:

If we had these groups, you wouldn't know these peoples competence so would you trust them working with your clients?

I wouldn't trust anybody with my clients! But if I were laid up in hospital it is either that or lose them!

I was thinking along the lines of a ring structure (bear with me). Lets say there are 8 of us in the group all numbered 1 to 8. If me, number 3, gets run over then number 4 will be my appointed cover. Now that person doesn't necessarily do all the work, but they will be responsible for co-ordinating it. Therefore, if number 4 doesn't have the capabilities, or indeed the time or resources, to complete any urgent work then it can be allocated to someone else in the group but still remain under number 4's supervision.

What do people think of that idea?

Originally I was thinking of the groups being the size of local branch networks, i.e. 50 to 60, but I am now leaning towards a smaller group such as 8. Obviously a smaller group restricts the pool of expertise available, but I would also suggest a smaller group would create a greater sense of responsibility towards the other members of the group in case their services were ever called upon. If it happened to someone at your branch that you had never met then I think we may be less inclined to treat it so urgently (Or maybe thats just selfish little me! )

Any thoughts?

System

Re:Professional Cover: Discussion

I think smaller groups would work better, it would create a sense of responsibility and it might even be possible to arrange to odd meeting - not quite sure what the format would be but I think any form of contact would help to cement the group and reinforce it's purpose. It would also make it easier to plan distribution of the workload.

Perhaps you could try to ensure a good mix of expertise within the group - a bookkeeper, a payroller, self assessment expert etc.

I suspect you would have to look further afield than branch meetings to attract members. Many of the attendees at my local branches (West Surrey and North Hampshire) are employed in full time jobs. It would be great if you could approach the whole of AAT membership, then you'd access all MIPs and those who have some spare time or are thinking of setting up thier own practice.

System

Re:Professional Cover: Discussion

I have been reading this thread with great interest and think the idea is fantastic. I agree smaller groups would be better.
Sheelagh is right you would need to approach the whole network of MIP's out there to get a good balance of skill and access those who would be willing to take part in a scheme.

Have you approached the AAT with this - I think you are onto a winner.

Michelle

System

Re:Professional Cover: Discussion

Thanks for the support.

I want to do some more research before I approach the AAT with a proposal. My experience of bureaucracy in any organisation is that the idea won't get past the starting blocks unless there is a concrete proposal backed by the real needs of the membership.

You are certainly right that I need to contact more MIPs. Obviously the only people with a mailing list of all MIPs is the AAT.

I think the next logical step is to get a questionnaire out to all MIPs addressing the issue of professional cover and getting their thoughts on the matter.

When I have the time to construct a first draft then I will be in need of some guinea pigs! (Note to self: stop coming up with ideas at the busiest time of year!)

Ok, any ideas on what questions to ask the MIPs?

Here's a few starters (again, in no particular order..)

- Are you a sole-practitioner or a partner within a firm?
- Are you a full-time MIP, part-time MIP or just do a few jobs in your spare time?
- Do you have a robust plan of action in place if you are incapacitated and unable to serve your clients?
- Have you ever needed to call upon your professional cover?
- Are you confident that your clients will be dealt with in your absence?
- What if your absence is prolonged?
- What if you were to die? (Horribly in a freak accident!)
- Do you provide professional cover to another MIP?
- Have you ever been called upon to cover an MIPs practice in their absence?

Any brainstorming would be much appreciated..

System

Re:Professional Cover: Discussion

Further thoughts for survey

Is your professional cover familiar with your systems

Do you work in specialist areas. if so, how well would your professional cover be able to manage your clients - (scale of 1 to 5)

What problems will/did your prof. cover encounter when called upon to step in to your shoes.
What problems would/did you face when covering for another MIP.


A further consideration is fees and damage to MIP/ client relationship. Who would invoice the client / collect fees. What fees could the professional cover expect to receive. Will the client have to pay more, or be tempted to migrate if the clients feels they can get a better deal by appointing the prof. cover.

System

Re:Professional Cover: Discussion

Mmm, lots of ideas on professional cover. Has anyone ever had to use their professional cover anyway?? :roll: