We currently offer optional fee protection insurance, supplied by Croner Taxwise, to all our clients.
We are insured in respect of fees up to £100,000 incurred representing you in the event of an HMRC enquiry, intervention or dispute. Where applicable this service extends to include your directors, partners and company secretaries (including their spouses/civil partners) subject to external income limits.
- Any compliance check started by HMRC regarding your compliance with Income Tax and/or Corporation Tax Self-Assessment: PAYE, National Insurance, Construction Industry, IR35; VAT; National Minimum Wage or Gift Aid legislation and regulations; and
- Any consequent dispute with HMRC after the issue of an assessment, computation of liabilities, written decision, notice of VAT civil penalty or notice of underpayment of the National Minimum Wage; and
- Any claim in respect of Inheritance Tax enquiries, Child Tax Credit enquiries or a compliance check carried out under HMRC Code of Practice 8 (provided fraud is disproved subject to a maximum indemnity of £15,000).
Including professional fees incurred in respect of a local review of the enquiry and preparation and representation at an appeal to the First-tier Tribunal, Upper Tribunal or Employment Tribunal and any appeal against such a tribunal’s decision. After an appeal to the Upper Tribunal or where there is no right of appeal to the tribunal, the Policy will cover an application for Judicial Review (subject to a maximum indemnity of £5,000).
Clients who chose to take the optional insurance cover also gain access to Croner’s free webinars and e-learning sessions.
The key exclusions are fraud, criminal prosecutions, tax avoidance schemes, deliberate omissions, any tax, fines, penalties or interest that you may be required to pay and any enquiries that commence prior to the commencement date of the policy.
Our Policy containing all of the terms and conditions is available here.
Making a claim
In the event of any correspondence or communication from HMRC relating to a potential enquiry or dispute, please speak to your us straight away. We will then make a claim against our Policy and credit the proceeds against your liability for fees. You could be liable for fees not covered by the Policy.
How much does the cover cost?
Current insurance premiums are:
Limited companies, LLP’s and partnerships – £128 per annum
Sole traders – £116 per annum
Personal tax clients – £32 per annum
The insurance cover also gives you access to Croner’s Business Support Helpline, which can provide advice on areas such as employment and personnel, health and safety and commercial legal issues.
Please contact us if you require any further information.