Broker service adviser Peninsula is aiming to double its 600-strong client base over the next 12 months.

The expansion will be achieved through the launch of a service to advise brokers on dealing with tax investigations, it claimed.

The company predicted that the new service, Taxwise,would bring the number of brokers on its network to more than 1,200.

Annual revenues are predicted to grow by £5m to £20m.

The Taxwise service will pay towards accountancy fees in the event of a full Inland Revenue inquiry or a Customs and Excise VAT dispute.

Peninsula managing director Peter Done said the service would give small and medium sized brokers a "value-added" edge to help them compete with international brokers.

He said the company would avoid the "hard sell" and concentrate on attracting new brokers to the network through a series of seminar sessions.

Done said Peninsula will concentrate on growth through the broker sector, spending £3m on developing services for the sector over the next three years.

"Taxwise is the key area that we are going to be concentrating on. We have to make sure that we get that right.

"It will be sometime before we launch any other products."