Fee protection insurance covers accountant fees incurred by representing you in the event of a tax inspection by HMRC.
Smith and Brown can offer tax fee protection insurance schemes through our partners at Taxwise, the leading specialist providers of this type of cover. Taxwise works with hundreds of accountancy practices and has approved 6,000 claims in only the past 12 months.
A Taxwise policy with us covers:
Full and aspect enquiries
Schedule 36 interventions and inspections
Business inspection notices
Business record checks
PAYE/NIC employer compliance visit disputes (& pre-dispute where required)
VAT compliance visit disputes (& pre-dispute where required)
Real Time Information (RTI) compliance visits
…and much more.
Annual cover can cost less than you think. Contact us for a quote.
With more sophisticated methods of investigation and wider powers, the likelihood of a HMRC tax inspection or enquiry is greater than ever.
Even if you have nothing to hide, HMRC could still choose to look into your tax affairs, which can be a lengthy and costly process. Anyone who submits a tax return could be open to investigation, and costs can run into thousands of pounds.
A fee protection insurance policy allows your own accountants to robustly defend your case if disputes arise, with the peace of mind that their costs will be covered. It means there’s no need to accept unreasonable tax charges due to concern over professional fees.
For the large part, you can let your accountant deal with the matter, leaving you to focus on running your business.
Communications with HMRC & Companies House
Self Assessment Tax Return
CT600 (Company Tax Return)
Monthly Management Accounts
Accounting Systems Set-up
Business Startup – Company Formation
Benchmarking and KPI’s
Virtual / Part-Time Financial Director / CFO
Non-Executive Director (NXD/ NED)
Disaster Recovery Systems
Monthly / Quarterly / Annual Performance Meetings