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Investigation Insurance  We use Abbey Tax protection for investigation insurance. We advise that the self employed take up this cover - for a partnership or self employed return, the current fee is £122 pa. Our charges for work on an investigation are £70 + VAT in addition to agreed fees, so if you are investigated you are soon reaping the benefit of insurance cover. This rate applies whatever your self employed turnover or profit. If you are not self employed, it is worth having insurance fees if you are renting out property, an employee claiming back expenses, a higher rate taxpayer or have a particularly complex Return. Anyone can cover themselves and the current cost for personal Tax Returns is £45 for the year. The insurance premium is payable when you wish to take up cover and renews at the beginning of March annually. We don't have many investigations but our fees can soon mount up to a considerable sum when answering the Revenue's complex queries and meeting your Tax Inspector with you. Please note that this insurance covers our fees in respect of Tax Returns sent in by us. It does not cover any extra tax if payable. We regret that we can also only cover clients whose Returns are sent in by us. Please contact us for further information. |
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