Tax Investigation Insurance
How you can buy low cost tax insurance to remove a growing element of risk for your business while the economy recovers...
It's a fact that while the economy recovers, the chances of you or your business being randomly selected for a tax investigation will increase...
The recently 'bank bail out' plans will result in more strain on the tax payer and whether you approve or not, one way income will be made available to the Treasury will be by HM Revenue and Customs increasing its investigation and enquiry activity...
You can't avoid the possibility of an investigation. But you can mitigate the financial impact of a tax investigation by taking out insurance to cover you against the cost of our professional fees as we defend you.
The fee protection insurance costs between £50 plus VAT and £210 plus VAT for a full year's cover depending on whether you wish to cover yourself as an individual or whether you wish to protect your business. This represents a great return on investment when you consider that tax investigations can drag on for many months and costs regularly exceed £4,000.
You should note that the insurance covers not only full investigations but the fees for dealing with the more common 'aspect' enquiries, with the exception of the first £200 in cost. 'Aspect' enquiries occur when the Revenue asks a few specific questions rather than requesting sight of all your books and records.
Take up the tax investigation insurance and you will have peace of mind that we will be able to deal with an investigation in the best way possible for you and your business without the fees becoming a problem to you.
Each year the Clear Vision team reviews the options to make sure that you are offered the best insurance package at the best price. So you can be sure that we constantly offer the best fee protection insurance through the best insurance provider.
Take a simple step to take up the insurance and get peace of mind...
You can pay for your insurance by cheque or by bank transfer. An invoice will be forward to you upon payment, with a copy of the Summary of Cover.
Just call Diane Aldridge on 01249 712074 or email diane.aldridge@cvag.co.uk to find out more and purchase your cover.
Here's four more reasons you should be concerned about a tax investigation...
- the number of tax enquiries as a whole has almost doubled in the last ten years
- the tax authorities are known to be channeling even more resources into collecting more tax and VAT in 2009
- the Revenue needs no reason to start an enquiry - all taxpayers are affected by Self Assessment and everyone is at risk
- the effects of an investigation can be damaging for you in terms of cost and worry
Call Diane Aldridge on 01249 712074 or email diane.aldridge@cvag.co.uk to purchase your cover today.
