This is something that I have paid for all the clients of our practice for many years simply because it gives me peace of mind to know that every client, every tax return, every payroll we run is protected from sudden and unexpected fees when HMRC start asking questions. In the past it was up to individuals to take out, or not take out, professional fee insurance depending on their circumstances, their view of the risk of an HMRC inspection or of insurance generally.
I thought it high time that I published the details of the scheme that every client is covered by so I have uploaded this year’s Summary of Service for everyone to examine.
It isn’t that I am scared of dealing with an HMRC investigation, but I am certainly no expert. This policy allows me to use the services of seriously professional people that do nothing but dealing with HMRC investigations without worrying about cost for me or my client. This will ensure the absolute best possible outcome for any client in this position and who is supported right through the appeal system if necessary.
Insurance is meant to represent peace of mind and in my view, this policy gives me peace of mind that everyone I deal with are covered by a full professional policy in the event the worst happens. The only stipulation the Insurers put on any client is that they file their tax returns within the statutory time limits. That is a no brainer as I ensure that is the case for every single client every single year.
You can find the summary of service on this link.
Please let me know if you have any questions on this.
Finally – does your accountant give you this peace of mind as a matter of course?