Tax Investigation Insurance

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Tax Investigation Insurance

Insurance against the professional costs associated with tax investigations.

Tax Inspectors regularly look at Employer Compliance (PAYE, P11D and NIC) matters throughout a range of businesses in order to identify potential errors - items such as employee status, casual payments and expenses as these areas often lead to potential discrepancies.  As a client to this firm, you are entitled to take out an insurance policy to cover this firm’s costs should HMRC decide to investigate your Employer Compliance affairs.

I am sure that you will have read stories in the press about HM Revenue & Customs investigations into the affairs of taxpayers, and there may be justification for those particular enquiries.  What is often not appreciated is that HM Revenue & Customs have the right to carry out what is known as a “Compliance Check” for any reason that they choose.

At James Cowper we have experience of a wide variety of Compliance Checks. Some have been easy to answer but some have been technical to answer and have taken over a year to complete the check and bring it to a conclusion.

I enclose details of the insurance policy which I believe offers excellent value for money, and whilst it does not pay any additional tax that is due as the result of a Compliance Check, it can offer you peace of mind that this firm’s costs associated with the Check are covered.  Please note it has been tailored to cover Employer Compliance, VAT and Schedule 36 enquiries only ie, does not cover income or corporation tax.

View Key Facts Document here.

To find out more, or to subscribe, please contact Jo Grieve or call +44 (0)1635 553261.  Alternatively contact your normal James Cowper representative.

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