Tax fee protection insurance
Anyone who submits a tax return is at risk from an HMRC investigation.
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How we can help form your company
Every year, HMRC investigates hundreds of thousands of individuals and businesses in the UK. It has the powers to do this at random, at any time, and everyone is at risk. Even if you have done nothing wrong, you are still at risk of an investigation, which can take many months and cost thousands of pounds. Tax Free Protection Insurance will cover the costs of accountancy advice and support throughout such a stressful and expensive experience.
With our tax fee protection insurance service, you can enjoy the peace of mind that comes from knowing you’re protected. Not only does it cover the cost of an investigation, it enables us to provide expert advice and guidance to you in the event of an enquiry.
Our tax investigation service is supported by a policy from the UK’s leading tax investigation insurance providers, Professional Fee Protection, which we have taken out in our own name. This enables us to manage your case for as long as your HMRC tax investigation takes, up to the policy limit.
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Contact UsIs anything not protected?
There are some things that our Tax Fee Protection Insurance cannot cover – full details are available on request but include:
- The cost of making good any deficiencies in books, records, accounts or returns
- Claims that originate from any matter that existed before the first period of insurance, except where full disclosure has been made and the increase in risk has been accepted in writing
- Minimum wage, student loans, CIS and tax credit enquiries
- Returns that have been submitted more than 90 days late
The tax fee protection insurance service in summary
Full enquiry: Comprehensive HMRC review of your entire self-assessment tax return, including all books and records
Aspect enquiry: HMRC investigates specific aspects of your self-assessment tax return, possibly requiring clarification or further details
VAT and employer compliance visits: HMRC conducts routine PAYE/VAT checks; professional representation is covered up to £1,000 if needed
Pre-dispute cover: Involves professional representation following a routine HMRC inspection; indemnity limit is £1,000
VAT disputes: HMRC challenges the accuracy or completeness of your VAT returns, typically involving disagreements over VAT calculations
PAYE and NIC disputes: HMRC challenges the accuracy of returns submitted under PAYE regulations, usually involving disagreements over PAYE or NIC amounts
IR35 disputes: HMRC claims that a client should be subject to IR35 legislation, typically following a PAYE compliance visit
Business inspection notices: HMRC requests entry to inspect business premises, assets, and documents, often with short or no notice
Code of Practice 8 investigations: Special HMRC investigations that issue a Code of Practice 8 Booklet; indemnity limit is £5,000
Application for judicial review: Legal challenge to an official decision when no other recourse is available; indemnity limit is £5,000
Partners / Directors / Secretary / Spouse cover: Coverage for personal returns of partners, directors, and their spouses, and company secretaries, with certain limitations
Interventions cover: HMRC issues a routine letter for clarification on a Self-Assessment tax return; indemnity limit is £1,000 per claim
Client legal helpline 24/365
As a subscriber to the tax fee protection insurance service, you also have access to the helpline which is available to deal with common legal issues such as:
- Health & Safety
- Employment & Personnel
- Commercial Legal Matter
If you wish to join the scheme the prices (net of VAT but including IPT) are for the one year period commencing 1 April 2016.
- Landlords – £39.00
- Sole traders – £79.00
- Partnerships – £99.00
- Limited company (including director cover) – £99.00
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If you would like to contact us use the form below and we will get right back to you.
