Running an insurance or brokerage firm means dealing with strict compliance requirements, commission-based income, and complex VAT rules. Whether you are an insurance broker, a mortgage advisor, or a claims agent, staying on top of accounts, tax, and regulatory obligations is vital to protect both your clients and your business.
At Clarkwell & Co. Chartered Certified Accountants, we provide dedicated accounting services designed for the insurance and brokerage sector across the UK. From handling commission and fee income accounting to filing your tax return for mortgage advisors, our team ensures your business remains compliant, profitable, and financially organised.
Insurance brokers, mortgage advisors, and claims agents face accounting challenges that standard businesses don’t. Here’s why specialist support matters:
Brokers often earn from both commissions and client fees. A specialist accountant ensures income is recorded correctly, clawbacks are tracked, and profits stay accurate.
Many insurance services are VAT exempt, but not all. We help you apply the right VAT treatment, handle partial exemptions, and avoid HMRC penalties.
The FCA and HMRC expect precise records and timely reports. With our brokerage firm accounting, you stay compliant and avoid costly mistakes.
Claims, refunds, and client settlements need careful monitoring. We make sure everything balances, protecting both your business and your clients.
Variable commission and expenses make tax tricky for advisors. We prepare accurate returns, claim all allowable expenses, and keep you on top of deadlines.
Insurance brokers often work on commission-based income structures, which need careful tracking and reporting. We handle commission and fee reconciliation, expense management, year-end reports, and HMRC submissions so you can focus on your clients.
Running a brokerage firm requires efficient financial management. We provide bookkeeping, cashflow forecasting, payroll, pension auto-enrolment, and corporation tax planning to keep your business organised and profitable.
VAT for insurance agencies and brokers can be difficult, especially with exempt services. We guide you through identifying exempt vs. standard-rated services, managing VAT registration and submissions, and applying partial exemption methods to keep you compliant and penalty-free.
Mortgage advisors face complex tax returns due to variable commissions, fees, and expenses. Our team prepares accurate self-assessment returns, maximises expense claims, manages ongoing obligations, and ensures you stay compliant with HMRC deadlines.
Accurate tracking of commission and fees is essential for brokers. We deliver real-time income reporting, separate fee allocation, reconcile payments and clawbacks, and provide profitability analysis to support your growth.
For claims agents, compliance and accuracy are critical. We help track settlements, manage client funds, support FCA compliance, and carry out risk audits to protect your business.
At Clarkwell & Co., we understand the unique financial challenges faced by insurance brokers, mortgage advisors, and claims agents across the UK. With decades of combined experience, our team has worked with both independent professionals and larger brokerage firms. This in-depth knowledge allows us to provide solutions that are practical, industry-focused, and designed to support long-term growth.
The insurance and brokerage sector is heavily regulated, with both the FCA and HMRC expecting precise record-keeping and accurate reporting. We put compliance at the heart of everything we do, from preparing VAT submissions to handling client fund reconciliations. Our compliance-first approach gives you peace of mind that your business is meeting all statutory requirements, while also avoiding fines, penalties, or unnecessary risks.
We believe in straightforward, honest pricing with no hidden costs. Whether you need ongoing bookkeeping, a tax return for mortgage advisors, or complete brokerage firm accounting, we provide a clear breakdown of fees before we begin. This means you always know what to expect and can budget effectively for your business.
Although our offices are based in London, we proudly serve clients nationwide. Many of our insurance and brokerage clients operate remotely or across multiple regions, and we use the latest cloud accounting tools to keep everything seamless. Whether you’re a local broker in London or a claims agent working across the UK, our services are accessible, efficient, and customised to your needs.
Whether you are a self-employed insurance broker, a mortgage advisor, or run a brokerage firm, Clarkwell & Co. Chartered Certified Accountants can help streamline your finances and ensure compliance. Call us today or request a free consultation to see how we can support your business.
Find quick answers to common accounting questions for insurance brokers, mortgage advisors, and claims agents in the UK.
Yes. Insurance brokers deal with commission income, VAT exemptions, and strict FCA rules. A specialist accountant ensures your accounts are accurate, compliant, and tax-efficient.
Most brokers pay Income Tax or Corporation Tax, depending on whether they operate as sole traders, partnerships, or limited companies. Commission and fee income must be reported correctly, and expenses should be claimed where allowable.
Yes, most core insurance services are VAT exempt, but additional services such as consultancy or admin charges may attract VAT. Our team advises on VAT rules for insurance agencies in the UK.
Yes. Mortgage advisors can claim business expenses such as office costs, marketing, professional fees, travel, and software subscriptions. We make sure you maximise all allowable deductions.
It depends on the services offered. Some claims-related services are VAT-exempt, while others are standard-rated. We help determine the correct treatment and manage VAT submissions.
Commission and fees must be recorded separately, with adjustments for clawbacks and refunds. We provide commission and fee income accounting for brokers across the UK to ensure accuracy and compliance.
Your tax return should include commission income, client fees, expenses, and any other income streams. We prepare self-assessment or corporation tax returns accurately and on time.
Yes. Even small firms face complex VAT rules, compliance obligations, and FCA reporting. A brokerage firm accountant helps you stay organised, compliant, and financially stable.
We provide claims and compliance accounting services, including client money tracking, reconciliation, and risk audits, to ensure your business meets FCA standards.
If you run your business as a limited company, yes. Corporation Tax is payable on profits, and returns must be filed annually. We manage tax planning and submissions on your behalf.
Client money must be kept separate and carefully reconciled. We help claims agents and brokers manage client fund accounts in line with FCA regulations.
Absolutely. We use leading cloud software like Xero and QuickBooks to provide real-time financial reports, commission tracking, and VAT submissions for brokers.
HMRC issues penalties and interest on unpaid tax. We make sure your tax return for mortgage advisors is filed accurately and on time to avoid fines.
Yes. If you employ staff, you must manage PAYE, pensions, and auto-enrolment. We provide complete payroll support for brokerage firms in the UK.
