Tax Enquiries - Everyone is at risk
Anyone who sends in a tax return or business accounts to HM Revenue & Customs (HMRC) is at risk of a tax enquiry or inspection. Thousands of individuals and businesses are selected for such checks every year.
If it happens to you, the questions will be detailed and time consuming to answer. Even if HMRC does not find any extra tax to pay, the costs to defend you could be substantial and can easily amount to hundreds or thousands of £s.
Most accountant’s normal annual fees do not cover the additional professional costs of handling tax enquiries and compliance checks. You can obtain protection against the potentially high costs of such fees simply and inexpensively by taking out Tax Investiagation Cover (TIC).
Follow our step by step guide below to find out more.
Note: Only clients of Lovewell Blake can purchase this protection. If you are not a client (we are not your tax agents) you should not purchase cover via our webshop (any policy would be void).
What is it?
Our Tax Investigation Cover protects against professional fees incurred defending clients when HM Revenue & Customs (HMRC) checks whether a client has paid the correct amount of tax.
The costs of defence in most reviews carried out by HMRC under the tax legislation are covered, including full and aspect tax enquiries, VAT and PAYE/NIC compliance checks, Business Records Reviews, and more. See the ”What does it cover” page for more information
The Summary of Service give more detail of what is included within the service and can be downloaded via the link below.