Tax Enquiry Fee Protection Service

HMRC tax and VAT investigations can be daunting, disruptive and expensive.  Your accountant will assist you every step of the way to answer HMRC’s questions and to demonstrate you are paying the correct amount of tax.  This requires the expertise, time, flexibility and expense of your accountant on your behalf and such costs are not included in your regular annual fees.

Just as you take out contents insurance to protect your home or business, our tax fee protection service protects you against the unforeseen costs incurred by your accountant when dealing with an HMRC enquiry.

Why do I need the fee protection service?

  • HMRC enquiry activity is at record levels;
  • HMRC is targeted to increase tax revenues;
  • HMRC has been granted wider information and inspection powers under “Schedule 36”;
  • Anyone that pays tax can come under enquiry;
  • 80 specialist HMRC taskforces were established between 2011/12 and 2013/14;
  • Many enquiries are selected completely at random;
  • Even if your tax return and business records are accurate and the taxman finds no errors, accountancy fees can cost thousands;
  • No policy excess;
  • No nonsense policy allowing your accountant to deal with all enquiry correspondence from HMRC as well as attending meetings with HMRC where necessary;
  • Complete peace of mind.

All businesses and personal taxpayers are at risk of enquiry.  HMRC activity has been at unprecented levels for a number of years to the point where enquiries are commonplace.

For a modest amount, you can enjoy peace of mind that your accountant can deal with the tax authorities on your behalf and you will not be subject to any additional expense.  These costs will be covered by your accountant’s policy.

What is the fee protection service?

  • Your own accountant will defend you should you receive an enquiry from HMRC … Professional defence costs are often substantial;
  • These costs will be covered by your accountant’s policy;
  • Includes cover for enquiries under HMRC’s “Schedule 36” powers;
  • Includes complementary access to Employment Law and Health & Safety advice lines;
  • Your accountant deals with any claims.

What is NOT covered by the service?

  • Routine compliance work, eg. preparing your tax return;
  • Any tax, interest or penalties due;
  • Criminal prosecutions and fraud;
  • Enquiries commenced prior to subscribing to the service;
  • Tax returns not prepared and submitted by your accountant.

How do I join and what does it cost?

Please contact us for further details.

For the avoidance of doubt and to comply with financial services regulations, we must point out that we are not regulated insurance brokers and have not undertaken any form of market review of alternative insurance products, nor are we allowed to recommend any insurance product nor advise as to whether or not you would benefit from insurance.  We are not selling nor recommending an insurance policy.  Wellwood Hoyle Associates Limited have bought an insurance policy and it is Wellwood Hoyle Associates Limited who are the insured party.  Clients may join our fee protection scheme to benefit from our insurance policy in that our fees in respect of defending you in case of tax enquiry, dispute or investigation shall be paid to us by Taxwise.  Clients joining our scheme will have a “cooling off period” of 14 days in which they can decide to cancel and the fee paid shall be refunded in full as long as no work on tax enquiries, disputes or investigations have been undertaken.