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TAX ENQUIRY INSURANCE

Any self-employed individual or small business can be subject to a tax enquiry or inspection.  Even with no wrongdoing on the part of the business, HMRC can conduct routine enquiries into their tax affairs.

The cost of defending such enquiries can potentially be large, and it is important to ensure professional representation should HMRC come knocking.

A Tax Enquiry Insurance policy is able to cover accountants’ fees and, where required, Rhino are able to arrange for specialist representation for complex tax matters. The policy provides:

  • Up to £50k cover for professional representation in defence of an HMRC enquiry
  • Access to a panel of experts specialising in CIS and self-employment tax matters
  • Cover for a range of different HMRC enquiries

Tax Insurance Cover

  • Renowned experts to defend your case
  • Cover for limited companies, sole traders, and partnerships
  • Instant cover with documents issued immediately
  • Monthly or annual payment options
  • UK telephone support

MORE POLICY INFORMATION BELOW

Nuts & Bolts

What Does Tax Enquiry Insurance Cover? 

Representation in a number of HMRC enquiries into the policyholder’s tax returns, including:

- A PAYE compliance review
- An IR35 dispute
- A PAYE/NIC/VAT/Section 660A dispute

The policy will typically fund representation provided by Qdos – recognised experts in tax defence for the self-employed - but will also fund representation by an Accountant of the policyholders choosing, subject to the prior agreement of the insurer.

Refer to policy wording for full details of terms and conditions of cover.

Policy Limitations and Exclusions

All insurance policies are subject to terms and conditions, and we strongly recommend that you take time to read the policy document to familiarise yourself with those terms, particularly any limitations that may be relevant to you and your business activities.

Potential Claims

Below are some examples of scenarios that could be covered under a tax fee protection policy:

  • You receive notice from HMRC of their intention to review/investigate your corporation tax or income tax self-assessment return.
  • HMRC challenges the accuracy or completeness of your PAYE returns.
  • HMRC commence an enquiry into your employment status under PAYE and/or NIC regulations.
  • A dispute arises following a compliance check or routine inspection by HMRC into your VAT record keeping.

Claims Process

In the event that you receive notification of an investigation by HMRC you must notify the matter to insurers immediately by following the claims procedure detailed in your tax fee protection policy documents.

The insurer will ask you to confirm the circumstances of the matter, may ask you to complete a claim form and supply certain documentation to substantiate your claim.

If appropriate, the insurer will appoint a consultant to represent you through to the conclusion of the matter and will pay the consultant’s fee incurred in your defence.  You will be expected to co-operate with the insurer and the appointed consultant throughout the claim process.

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Need help? Call our team 0116 243 7904