Tax enquiry fee protection insurance
Cover in the event of an HMRC investigation
Tax fee protection insurance can help cover the cost of expert advice should the UK tax authority decide to enquire into your reporting of corporation tax, income tax, VAT and other taxes.
What triggers an HMRC investigation isn’t always obvious and, indeed, HMRC purposefully maintains some ambiguity around it. HMRC’s monitoring system, Connect, which matches records from sources such as the DVLA and Companies House to identify ‘red flags’.
HMRC launches thousands of investigations each year. Even if your tax affairs are, in fact, in perfect order, an enquiry can have a derailing effect. They can be a major cause of stress, take up days of your time over the course of months and, if not handled correctly, result in additional tax payments, penalties or prosecution.
For an affordable ongoing premium, tax enquiry fee protection insurance provides the reassurance that, if need be, you will be able to afford the professional guidance you need.
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Contact us to move forward with getting efficient online accounting and advice for your business.