Taxpayers seeking insurance
The Times reveals that an increasing number of people are taking out insurance to protect themselves against the costs of being scrutinised by HMRC. Last year saw hundreds of thousands of people receive “inquiries” from the Revenue about the figures in their tax return, ranging from a simple clarification request to a full-scale scrutiny of their tax affairs. Kevin Igoe, MD of insurance provider PFP, says: “We have had 3,000 to 4,000 more inquiries this year, from businesses and individuals, for insurance to cover accountancy fees should they be investigated by the tax office.” Mr Igoe says the insurance will cover the accountancy costs of dealing with an inquiry, which can be up to £70,000.
Source: The Times (28/01/2017)
We at Stephens offer to our clients a Tax Enquiry Service, whereby for 8% of our annual fees, we will cover all time costs of a HMRC enquiry into your business or personal tax affairs,VAT & Payroll. We handle the enquiry to its conclusion.
Stephens Accountants
Southgate Business Centre,
32 Gillygate,
Pontefract.
WF8 1PQ
Telephone: 01977 791757
FAX: 01977 795366
E-mail: info@stephensaccountants.co.uk
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