Fee protection insurance can provide invaluable coverage in the event of an HMRC enquiry or dispute. It is a great way to protect yourself and your clients from any potential investigations by HMRC, while also providing extra revenue to your firm.
Accounting Fee Protection Services
It’s important to protect your firm against the risks posed by HMRC enquiries and disputes. Accounting fee protection services are designed to do just that, and give you peace of mind when it comes to dealing with any potential HMRC investigations. This can help ensure that any additional costs or expenses incurred during enquiries don’t place an undue burden on your business.
Accounting fee protection insurance is designed to cover all legal costs related to an investigation as well as additional expenses associated with responding to an inquiry. This includes matters such as attempts by HMRC to recover unpaid taxes, or access to information for purposes of clarifying tax liabilities – both of which can incur additional penalties if not handled properly.
Benefits of Fee Protection Services
The primary benefit of using these services is the sense of security they provide in the event of a dispute or enquiry from HMRC. Knowing that you have coverage in place can take away a great deal of stress and safeguard your firm from potential losses incurred in the event of a dispute or inquiry from an official government body such as HMRC. The cost of this insurance is usually much lower than the potential financial losses associated with a dispute, making accounting fee protection services cost-effective insurance against unwanted surprises.
Our professional tax advisors use specialised software which helps them manage large data sets, quickly and accurately analysing the data which could make decisions about how best to minimise taxable income for our clients. We offer advice on potential savings opportunities such as capital gains exemptions or optimising superannuation contributions that could potentially reduce taxable liabilities for clients.
Should I be Using Tax Investigation Insurance?
Investing in tax investigation insurance can provide invaluable peace of mind for businesses and individuals, particularly those dealing with complex tax laws. It is important to consider the potential costs involved should HMRC launch an investigation or dispute, as the financial losses could be far greater than the cost of taking out such insurance. Additionally, in some cases the coverage offered by these policies may also include legal fees related to defending any contested claims from HMRC.
Ultimately, it is up to individual businesses and accountants to weigh up the pros and cons of taking out a tax investigation policy against their own unique circumstances.