Anyone who submits a tax return is at risk of a Tax Investigation
There doesn’t need to be a reason for the HMRC to trigger an investigation. Everyone who submits a tax return is at risk of being randomly chosen for an enquiry. Win or lose, you always have to pay the cost of handling the investigation. The Tax Investigation Policy will cover our professional fees that result from most types of HMRC enquiry or investigation. Unlike some fee protection products that appoint their own advisors this policy ensures that we can continue representing you. We believe that we know your business best and we want to be there for you when you need us most.
“What is a Fee Protection Policy?”
It is a Policy set up via us in conjunction with Professional Fee Protection (PFP) to protect clients who suffer a tax enquiry. For a small annual fee, you can purchase a fee protection Policy and obtain the benefits described on the Policy Summary. When you take out the Policy you are able to make a claim against your insurance policy held with PFP in respect of our fees incurred.
What are the main benefits to the Policy?
- We will defend you, if and when you are selected for a tax enquiry by HMRC.
- The potentially high costs of professional fees for that defence will be claimed under the insurance policy.
- It will not be necessary to accept unreasonable tax charges by HMRC due to concerns about professional fees.
- You will also get free access to a 24/7 business legal helpline.
What is protected by the Policy?
Under the Policy, subscribing clients will be fully protected and can claim under the insurance policy for up to £100,000 of professional costs, in the following circumstances:
- A HMRC enquiry into a personal or business tax return.
- A HMRC enquiry into any business accounts, including those of sole traders, partnerships and limited companies.
- A dispute with the HMRC where additional VAT is being pursued.
- A dispute with the HMRC where additional PAYE tax or National Insurance Contributions is being pursued.
- A dispute with HMRC relating to the tax status of employees or subcontractors.
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