Last year more of our clients than ever signed up to our Tax Investigation Service - insurance to protect against the costs associated with an HM Revenue & Customs (HMRC) tax enquiry.

Why should I take out this insurance?

Taking out insurance to cover the costs of an unexpected tax enquiry has always been something that we strongly advise our clients to do; enquiries can last for months, or even years, and prove very costly.

However, as a consequence of the Chancellor’s £350 billion lifeline for the economy due to COVID-19 we expect to see an even greater increase over the coming years in HMRC enquiries to help shore up government spending. 

Already each year, HMRC undertake an enormous number of tax enquiries into individuals and businesses to check they have paid the right amount of tax. As a consequence, HMRC secured a record £34.1 billion of additional tax revenue in 2018/19, up by a staggering £3.8 billion on the previous year. 

Remember, our annual fees do not cover the additional professional costs of handling tax enquiries and compliance checks. 

How much will it cost and how do I purchase the insurance?

Cost for the service are dependent on whether you are taking out cover for an individual or a business, and on the type of business being covered.

Costs for cover for the 12 months from 01 May 2020 are:
 

Private client - £66*

Sole trader or Partnership - £216*

Limited Company or LLP - £276*

*All prices inclusive of VAT at 20%
 

To take out this cover, click on the “Renew or Purchase Now” button and follow the instructions below:

Once on site:

• From the right-hand side select the link under the “Your Quote” section.
   
• Select the appropriate details that reflect your status from the drop-down box, e.g. ‘Sole Trader’.  
   
• Register your details as a New Customer, or Returning Customer if you joined online last year.
   
• You can then complete the transaction by making the necessary payment by 30 April 2020. 

Further information and resources
Click on the thumbnail images to view or download the documents

For further information on the service, please read our leaflet : 

 

 

 

 

Other useful documents

Sample Summary of Service document:

 

 

 

Claims Examples document:

 

 

 

Frequently Asked Questions:

 

 

 

Get in touch

If you have any questions about the Tax Investigation Service, please get in touch by calling 01483 205850, or emailing us by clicking here