Fee
Protection Insurance
In the UK we live in a self assessment tax environment,
where taxpayers are responsible for making their own Tax Returns.
Tax liabilities are then calculated purely on the basis of these
Returns. HMRC 'police' this system by having extensive
powers to investigate the accuracy of these Returns by opening
targetted or random tax
enquiries, record checks and by conducting VAT and PAYE control visits.
In response to this increased risk of our clients
being subjected to an enquiry, we offer clients the opportunity
to take out fee protection insurance before we submit their tax
return. You can then rest assured that if a tax enquiry is opened,
any additional professional fees (excluding all of the VAT) that we charge you for dealing with
this enquiry will be paid direct to us by your insurance policy.
We recommend that all of our higher risk clients and those who wish to insure against uncertainty join this scheme.
Terms and Conditions
Our fee protection insurance scheme is underwritten
by one of the largest insurer in this field. The
main features of the scheme are:
- There is no excesss on this insurance cover.
- Cover for company directors and partners is included in the
cover for the company or partnership.
- The cover includes aspect enquiries, full enquiries and disputes
arising after a PAYE/NIC or VAT control visit (up to a maximum
of £75,000).
- 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 shall administer
all aspects of this procedure.
Premiums
Please contact us for details of premiums, which are calculated on an annual basis from a 1 April policy start date.
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