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Tax investigation insurance, also known as tax audit insurance, is a policy that protects businesses and individuals from the cost of their accountant's fees associated with a tax investigation or audit. While nobody wants to think about the possibility of a tax investigation, the reality is that they can happen to anyone at any time. That's why it's essential to consider the benefits of tax investigation insurance.
If you are investigated, the costs of professional fees can add up quickly, and without insurance, those costs would need to be paid out of your own pocket. By having tax investigation insurance, you can rest assured that the costs associated with an investigation will be covered, alleviating any financial stress. The annual cost of the insurance is approximately the same cost as ONE HOUR of senior-level support which makes it an obvious investment.
The frustrating point to note is that even if HMRC do not find any errors in your affairs you are still liable for the fees incurred. So you could end up our of pocket through no fault of your own.
Additionally, tax investigation insurance can help businesses and individuals save money in the long run. By having insurance, they can access expert legal and accounting advice, which can help to minimize the amount of tax owed. In some cases, the advice provided can even prevent an investigation from happening in the first place. This can save businesses and individuals a significant amount of money on their taxes in the long run.
Our tax investigation insurance is provided by Vantage Fee Protect. As part of the insurance you also gain access to an employment law and legal telephone helpline.
Lastly, tax investigation insurance can be a valuable asset for businesses that are looking to secure funding or sell their business. Having insurance in place shows potential investors or buyers that the business is financially responsible and has taken proactive steps to protect its assets.
Client's policies are up for renewal in the next month and so we urge you to renew or take our your cover asap.
Click the image for the link to sign up:
If you would like to find out more about working with Butlers, you can book a free discovery meeting here:
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