Tax Fee Protection Insurance

The latest information you should know.


Tax Fee Protection Insurance

The pressure on the government to generate increased tax revenues has been well publicised in recent years. Indeed, HM Revenue & Customs (HMRC) has been targeted with delivering an extra £7 billion in taxes each year by 2014/15. As a consequence the number of tax enquiries undertaken by HMRC has increased significantly and this upward trend is expected to continue. Download our Number of Claims by month and Key Facts guide for more information.

To provide peace of mind, Corr & Corr deliver a Fee Protection Insurance Scheme in conjunction with CCH Taxwise Services Ltd. Any taxpayer can be targeted by HMRC to check that they are paying the right amount of tax. Even if your tax return and business records are accurate and the taxman finds no errors, accountancy fees can cost thousands. So it is as important as it has ever been for clients to obtain protection against these costs. Corr & Corr will defend you should you receive an enquiry from HMRC and, should you chose to enjoy our fee protection insurance scheme, these costs will be covered by your policy, including cover from HMRC visits as well as written enquires.

Why Tax Fee Protection Insurance?

  • Business and ownership structure
  • Strategic planning and system controls
  • Tax planning
  • Setting up and managing PAYE and VAT schemes
  • Bookkeeping and management accounts preparation
  • Choice of computerised accounting software
  • Budgeting and cashflow planning
  • Production of management accounts and KPI’s (Key Production Indicators)
  • Staffing issues, both in HR and financial packages
  • Business planning
  • Fund raising
  • Running board meetings