The pressure on the government to generate increased tax revenues has been well publicised and HM Revenue & Customs are targeted with delivering billions of pounds in additional yearly taxes. As a consequence, the number of tax enquiries undertaken by HMRC has increased significantly and this upward trend is expected to continue.
Any taxpayer can be targeted by HMRC to check that they are paying the right amount of tax and answering all of their questions takes time. The enquiries can often drag on for months and can sometimes even take years to conclude. This could result in you incurring thousands of pounds in professional fees as your accountants do everything they can to defend you and deal with HMRC on your behalf.
It is therefore more important than ever to protect yourself against these costs.
To provide peace of mind, we can offer you our Tax Enquiry Fee Protection Service which is backed by an insurance policy under which we can claim all the costs of defending you in any tax enquiry, intervention or dispute (up to a maximum of £100,000).
Once your cover is in place, you simply need to contact us as soon as you receive any correspondence or communication from HMRC relating to a potential enquiry or dispute, and we will do the rest; from commencing your claim under the policy right through to crediting the proceeds against the liability of your fees, meaning you won’t have to worry about paying an invoice.
A fee protection policy could be right for you if you want:
The main benefits of a fee protection policy are:
Before deciding to purchase a fee protection product, it is important that you consider whether the policy is right for you and you should thoroughly read all product literature before deciding whether to proceed.
Please remember that it is your responsibility to provide complete and accurate information to insurers when you take out a policy, throughout the life of the policy and when you renew the insurance. Failure to disclose information or any inaccuracies in the information provided could result in the insurance being invalidated.
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