What do you mean by "encode from video tape?" Do you mean capture? I think you can, if you have the appropriate hardware, e.g. a third-party capture card, and FCP installed. Obviously, this is only available on the Mac, which I'm assuming you're using since you referred to FCP.
Or do you mean something else?
One of the key differences between Premiere Pro and Final Cut Pro is native editing. Whereas FCP often required the conversion of the original media to ProRes, PP is quite happy using the media in it's native form. Since ProRes is a lossy compression standard, skipping that step has it's merrits.