Why do I need Professional Fee Protection?
You need protection against investigations by HM Revenue & Customs, as they are now able to:
- Make inspections unannounced
- Check your records before a tax return is filed
- Demand records without issuing a formal notice
- Ask third parties to check the accuracy of information
- Investigate direct taxes, VAT and employer compliance, since inspectors are now cross-trained.
Plus, don't forget that the professional fees incurred to fight your case can amount to more than any tax that may be due. At the very least an investigation can be stressful and distracts you from running your business.
What Can I Do?
We recognise the threat you face, that's why we strongly recommend that you take out Fee Protection insurance. Tiffin Green operates a client decide (optional) policy through the market leaders Croner Taxwise.
The annual premium is based on the size of your business and includes insurance premium tax and a small arrangement fee. Directors and Partners of the business are also included in the business premium, and the good news is this service is exempt from VAT.
Our scheme Premier Protection runs from the 1 June - 31 May however, you may join the scheme at any time by paying a pro-rata payment.
What are the benefits?
- Provides up to £100,000 per claim to cover professional fees resulting from Full Enquiries, Employer Compliance and VAT Reviews and HMRC Interventions.
- Aspect Enquiries are also covered with no excess to pay.
- All partners/ directors are covered through a single business premium.
- Low premium for sole-traders and private individuals.
Plus your premium includes unlimited access to a Free Business Support helpline.
You will gain invaluable access to highly experienced consultants providing advice and guidance on a wide variety of business-related issues covering HR, Employment Law, and Health and Safety.
Professional Fee Protection insurance covers professional fees including the cost of representation during HM Revenue & Customs enquiries and disputes.
We recommend that all clients subscribe to fee protection insurance, please contact us for a quotation.
Require more information?
If you would like more information or would like to speak to us direct then call us on 01277 224422. Or if you would prefer, ask us a question online.