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Tax fee protection insurance

This is a service that we strongly advise all our clients to undertake. This insurance specifically covers you against the extra fees that could occur as a result of a tax enquiry or dispute.

Increased powers within HMRC mean that they can open an enquiry into anyone's affairs with no reason and at random. These investigations can be costly, and whether or not you are found to owe tax, you will still have to pay professional fees incurred in handling your case. With this in mind, Acumen Accountants and Advisors can offer you Tax Fee Insurance (TFI), giving you peace of mind that the costs have been covered.

Why do I need it?

HMRC are more determined than ever to increase the tax yield from 'taxpayers'. They are using more efficient methods to check for non-compliance, and Tax Inspectors can ask to see your current records even before you submit a tax return. Disputes with HMR&C can quickly spiral into time consuming, stressful and costly affairs.

How can Acumen help me?

Even if you are found to owe no tax at all, you will still have to pay professional fees incurred in handling your case, our insurance policy is specifically created to pay for the fees arising from a tax investigation. The insurance allows us to dedicate the right level of representation without you having to worry about the costs, whilst we work directly with you to resolve the situation.

What costs are covered?

Up to £100,000 of professional costs per incident resulting from a HMRC intervention.

Are all investigations covered?

Yes, should you be investigated in the following, the costs will be covered:

  • Full enquiries
  • Construction Industry Scheme reviews
  • Business Record checks
  • Employer Record checks
  • Employer Compliance checks
  • IR35 review
  • VAT Compliance checks
  • Informal enquiries
  • Discovery investigations
  • Aspect enquiries
  • Cross Tax enquiries
  • National Minimum Wage checks
  • Student Loan checks

Acumen Accountants and Advisors are licensed to undertake this activity by the ACCA.