Tax Fee Protection Insurance

The likelihood that you or your business will be investigated by the tax authorities is higher today than ever before ...

Should this occur you may face an additional tax demand, and you will face additional professional fees.

Since the introduction of self-assessment for individuals and businesses, the Revenue authorities have been able to shift considerable resources from administration to investigation. They have also introduced random enquiries which take no account of the health of your tax affairs.

In order to provide the relevant information and liaise with the authorities, your accountant may incur costs of thousands of pounds. This normally involves lengthy meetings with inspectors, with detailed explanations in defence of your tax return. These costs often have no bearing on the amount of tax demanded and even if there were no additional taxes to pay, you would still be liable for the professional fees.

Until now!

TWP are offering their clients the following:

Your Professional fees insured

Qdos Tax Fee Protection Insurance will, for a modest premium, cover costs incurred by your accountant and associated specialists in defence of an enquiry from the Revenue authorities.

The insurance will provide cover up to £50,000 per annum in respect of fees arising in the event of an enquiry, investigation or dispute including:

	Inland Revenue full enquiries.
	Inland Revenue aspect enquiries.
	Value Added Tax disputes.
	Pay as You Earn disputes.
	National Insurance Contribution disputes.

The insurance cover includes appeals and tribunals, giving you the comfort that you have adequate resources to fully defend unfair tax demands.

As with any insurance policy there are some exclusions:

The following are excluded:

	Enquiries, investigations or disputes which have commenced prior to the inception of the policy.
	Enquiries resulting from tax returns that are submitted late.
	Where you do not keep prime business records.
	Matters where fraudulent activity or evasion of tax is involved.
	Some tax avoidance schemes.

Inclusive cover for directors, members and partners

To ensure seamless cover, the business policy will include enquiries into the tax returns of all directors, members and partners of the business.

Benefits to you

	Removes the uncertainty of unexpected defence costs.
	Allows your accountant to defend your case.
	Gives you the resources to achieve a fair result.
	Gives you telephone access to our employment law and health & safety consultants.

For further details on the Tax Fee Protection Insurance, please contact us on 01932 704 700 or email us on service@twpaccounting.co.uk