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HMRC Fee Protection
HMRC Taxwise Plus Fee Protection
Taxwise Plus Fee Protection provides you with annual protection in the event of your business or finances being investigated by HMRC – which can be an expensive, stressful and time-consuming affair.
If you would like to know more about Taxwise Fee Protection, please call or email us to discuss how it could protect you. A brief overview of what is covered under the policy is set out below.
Summary of Service
Wilkins Southworth is the policyholder and is insured in respect of charges incurred for work undertaken in respect of this service. Where applicable this service extends to include your directors or partners (including their spouses / civil partners), subject to the agreed external income limits. This page does not give full details of the cover provided. A copy of the Policy containing all of the terms and conditions is held by Wilkins Southworth and is available on request. The insurance is arranged through Taxwise Services Limited (FSA No 304970) and underwritten by Irwell Insurance Company Limited (FSA No 202897). A summary of the policy is as follows:
The policy will cover
The insurer will provide up to £75,000 (a lower limit will apply to some elements of cover) in respect of:
Fees incurred by Wilkins Southworth attending meetings with H M Revenue & Customs (HMRC) or responding to correspondence from HMRC when you are subject to an HMRC check, enquiry, visit, meeting or dispute. Including professional fees incurred in respect of a local review of the enquiry and preparation and representation at an appeal to the First-tier Tribunal or Upper Tribunal.
Making a claim
You must notify Wilkins Southworth in the event of an incident or circumstance which might lead to a requirement for them to represent you under the Fee Protection Service. Wilkins Southworth will make claims and credit proceeds against your liability for fees, you could be liable for fees should the claim be denied.
The main exclusions are:
Wilkins Southworth will not be able to make a claim against the policy, in the following circumstances:
- Enquiries or Disputes, which have commenced prior to the inception of the Policy.
- Enquiries or Disputes resulting from tax returns, which are submitted more than 30 days after the statutory filing date.
- Enquiries or Disputes where fraudulent evasion of tax is involved.
- Enquiries or Disputes involving tax avoidance schemes.
- Fees relating to the routine presentation of your affairs including the preparation or rectification of self assessment tax returns, accounts, P11Ds, P35s, VAT returns or any other statutory returns.
- Fees, expenses and disbursements incurred without the prior consent of Taxwise.
- Fees incurred reconstructing books and records that have been poorly maintained.
- Fees incurred as a direct consequence of a deliberate and significant omission of taxable income.
- Enquiries commenced by Special Civil Investigations (SCI) under Code of Practice 9. SCI Code of Practice 8 enquiries limited to £5,000 provided fraud or fraudulent intent is disproved.
A condition of the arrangement made with the insurers is that all claims must occur and be notified during the Period of Insurance.
For more details please read the Taxwise Plus Fee Protection guide.
What is tax fee protection?
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