Fee Protection Insurance

In a nutshell our fee protection insurance will cover you for any professional fees from representing you in the event of an HMRC enquiry. The insurance covers any compliance check, visit or investigation by HMRC relating to your tax affairs.

Our fee protection meets the demands and needs of any business that wants to protect itself against the unplanned cost of professional fees incurred when dealing with HMRC enquiries or disputes.
 
Knowing you have the fee protection in place limits the stress and uncertainty if an investigation from HMRC is started. It's a one off payment that covers you for the whole year. If HMRC come knocking you are safe in the knowledge that whatever it costs for us to liaise with them it will not cost you a penny more than the one off fee you have already paid, no matter how many hours, days or even months of work we put in.

In partnership with Croner-i Taxwise Protect, you can be safe in the knowledge that we will represent you in the event of an investigation and deal with HMRC on your behalf.

Also note that the Croner-i Taxwise Protect furlough support package is included within the cost of the fee protection insurance. This service includes comprehensive cover for all SEISS, CJRS and late filing return amendments that HMRC have implemented during the pandemic.

As we have reported HMRC are hot on bounceback loans that have unknowingly or purposely been taken out fraudulently, upping their checks on businesses and cracking down on fraudsters.

But why would HMRC open an investigation into my tax affairs?

This can be triggered for many reasons; a tip off, paying the incorrect amount of tax, late returns or HMRC are simply working within a targeted sector but the list of reasons is endless. The assumption when you’re selected for a tax investigation is that you have done something wrong - whereas this is rarely the case. Random enquiries into tax affairs can and do happen hence why we offer the fee protection insurance, not because we think you have been fraudulent.

Whether you’re an individual taxpayer or business owner, an investigation is possible and nobody is exempt. That brown envelope arriving on your doorstep is not to be ignored.

So what actually happens during an investigation?

If HMRC decide to investigate, you must comply with their requests. HMRC will check your accounts, request a mountain of documentation, ask lots of questions and may even want to visit you in person. No additional tax may owed, but you will still be left with enquiry fees which could cost thousands as there is no telling how much information HMRC will require.

In our experience, investigations are costly, stressful, and an unwelcome distraction from day-to-day life; whether HMRC initiate a full enquiry of your tax history or an Aspect Enquiry into a specific area of your return, you will be liable for the professional costs to bring about a prompt resolution.

Company type	Cost
Limited	£ 380.00
Partnership	£ 360.00
Sole Trader	£ 240.00
Personal Tax	£ 140.00

*if you join the policy during the year, the amount to pay will be discounted depending on how many months are left in the scheme

Here are some helpful leaflets from Croner Taxwise who provide our Fee Protection Insurance

Worried about a tax investigation?

Fee Protection Client Categories Explained

Product Information Document