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Fee Protection Insurance Scheme

For many years, HM Revenue & Customs (HMRC) has put extra resources into pursuing more tax. As a result, clients face an increased risk of an enquiry into their tax affairs. Enquiries are often more complex than in the past and the costs of responding are higher. This year, HMRC has been given new powers under which visits to premises can be arranged to carry out an informal check of financial records and we expect the powers to be used frequently.

We have considerable expertise in defending clients under enquiry by HMRC. If you are selected for a tax enquiry or an HMRC visit, we will aim to settle matters quickly and to minimise the final tax liabilities. Even so, answering all of HMRC's questions takes time and an enquiry could drag on for many months. It can cost thousands of pounds to defend you, whatever the end result.

To give peace of mind, we strongly recommend that all clients join our Fee Protection Insurance Scheme. Professional fees for defending clients in tax enquiries can be claimed under the insurance policy. This year, after reviewing the market, we have changed our insurance provider to Qdos Taxwise as we believe that they offer a better scope of cover at an excellent price. The Taxwise policy covers costs of responding to a visit under HMRC's new powers which were not included under the previous policy.

For more information, please contact us to request an information leaflet about the Scheme. This answers questions you may have about tax enquiries, sets out details of our insurance cover and other benefits, and gives information about the insurance provider. Clients in the Scheme are also able to obtain helpful advice about the complex areas of Health & Safety and Employment Law.

You should note that in providing this insurance we are acting as a general insurance intermediary. We are licensed to undertake these activities by the Institute of Chartered Accountants in England and Wales. Please see the enclosed 'Demands & Needs and Terms of Engagement' statement. A copy of the Policy Wording is available on request.

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