Tax investigation insurance, also known as tax audit insurance or tax defence insurance, is a type of insurance policy that covers the costs associated with a tax audit or investigation by the tax authorities. The policy usually covers professional fees incurred in responding to a tax audit or investigation, such as accounting and legal fees, as well as other costs that may be associated with the audit, such as travel and accommodation expenses.
Tax investigation insurance is typically purchased by businesses or individuals who want to protect themselves against unexpected costs and financial losses associated with a tax audit or investigation. While the policy does not prevent a tax audit from occurring, it can help to mitigate the financial impact of an audit and provide peace of mind to the policyholder.
It's worth noting that tax investigation insurance policies may vary in terms of coverage and exclusions, so it's important to carefully review the terms and conditions of any policy before purchasing it. Additionally, some policies may have a waiting period before coverage begins, so it's important to purchase the policy well in advance of any potential tax audit or investigation.
Tax Investigation Insurance
Market leading tax fee protection insurance for businesses, sole traders and individuals. Protect yourself from accountancy fees in the event of an HMRC enquiry.
Having a Solar Protect Tax Investigation Insurance policy at your disposal means that should you be one of the many 1000's of businesses or individuals that are selected by HMRC each year to look into your tax affairs your own accountant (your tax return agent) can get on and defend you robustly.
You have the peace of mind knowing that your accountant's (your tax return agent) fees will be paid by the insurance without any Excess for you to find.
Tax Investigation Insurance is an insurance policy that will fully reimburse your accountant's (your tax return agent) fees up to £100,000 if you are subject to enquiry by or dispute with HMRC.
A Solar Protect policy will enable your accountant (your tax return agent) to:
- Deal with any correspondence from HMRC
- Attend any meeting with HMRC
- Appeal to the First-tier Tribunal or Upper Tribunal
- Having the security of knowing that fees will be met in full will enable your Accountant (your tax return agent) to defend your position robustly
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