Tax Investigation Insurance

 

In the UK we live in a self-assessment tax environment, where taxpayers are responsible for calculating their own tax liabilities. HMRC then police the system by having extensive powers to investigate the accuracy of tax returns by undertaking targeted or random tax enquiries (corporation taxincome tax and capital gains tax), record checks or by conducting control visits (VATPAYE/NIC, employment status and benefits in kind).

 

In response to the increased risk of our clients being subjected to such an enquiry or investigation, we offer clients the opportunity to subscribe to our tax investigation insurance, before we submit their tax returns to HMRC. Clients can then rest assured that if a tax enquiry is opened, any additional professional fees (excluding the VAT, for VAT registered clients) that we charge for dealing with the enquiry will be paid direct to us by our insurance policy.

 

We recommend that all of our higher risk clients and those who wish to protect themselves against uncertainty should take out this cover.

 

Main Insurance Terms and Conditions

 

Our tax enquiry and investigation service is backed by an insurance policy with Professional Fee Protection (PFP) who are one of the premier providers of insurance in this field. The main features of the scheme are:

  • There is no excess on the insurance cover.
  • Generally, cover is limited to £100,000 (£2,000 for interventions)
  • Cover for company directors, their spouses, and partners and their spouses is automatically included in the cover for the company or partnership provided we act for the individuals concerned.
  • The cover includes aspect enquiries, full enquiries, HMRC interventions, employer compliance reviews, VAT assurance visits, IR35 enquiries and status enquiries.
  • Access to a free telephone support line, providing expert advice on health and safety, employment issues and commercial legal matters.
  • Cover can extend to new clients, for whom we have not prepared their last tax return.
  • If you need to make a claim on this policy, we administer all aspects of the claim procedure.

 

The tax investigation insurance cover runs from 1 April each year.

 

Client Review

Managing Director of a Translations Company
I would strongly recommend Whiting & Partners. The partner responsible for my affairs has been exceptionally helpful in matters which have covered a broad range of business areas. Hi sopen and friendly manner is a breath of fresh air.



 
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