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HMRC Investigations Insurance for Equity Members

Contact Abbey Tax on 0345 223 2727. Pay by card, direct debit or cheque.

Hundreds of Equity members responded to an email saying they would like to benefit from an insurance policy that paid for specialist tax consultants if their tax or VAT account were investigated.

We are now very pleased to launch this new service for members.

Devised to be an extra benefit for Equity members; the cover, provided by Abbey Tax, will reimburse the costs of professional representation from an Abbey Tax consultant in the event of a HMRC enquiry or dispute over your accounts.

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Questions and Answers

Q Who qualifies?

AMembers in full benefit who have applied and paid for the Insurance.

Q For how long and from when am I covered?

AFor a calendar year as soon as you have paid your premium.

Q How much does it cost?

A£65 for a sole trader; £80 for a limited company.

Q What of business interests not covered by my membership of Equity?

AYou can purchase additional cover on the following basis:

  • Turnover up to £100k - £70
  • Turnover £100k to £250k - £85
  • Turnover £250k to £500k - £115
  • Turnover above £500k (price on application)

Q If I make a claim, what level of cover do I get?

AThere are two limits of liability dependent on the type of enquiry or dispute.

1. A Limit of liability of £75,000 will apply to:

  • Income and Corporation Tax full enquiries
  • Employer compliance (PAYE/P11D/NIC)
  • Disputes
  • IR35 disputes
  • VAT disputes

2. A Limit of liability of £2,500 will apply to:

  • Aspect enquiries
  • Sch36 Pre-Dispute Cover, which includes all compliance visits, interventions and business records checks.

Q Will the insurance allow me to engage my own accountant to give me professional representation for an HMRC enquiry or dispute?

ANo. Abbey Tax’s consultants undertake the enquiry work. All the investigations specialists are ex-HMRC. If HMRC raises an enquiry, Abbey Tax obtains your authority to deal with it, gets such information that may be required from you and your accountant (if there is one) and responds to HMRC accordingly.

Q Who are Abbey Tax?

AAbbey Tax is the largest independent tax investigations consultancy in the UK, dealing with around 500 tax investigations per year, handling in excess of 2,000 tax investigation claims and providing investigations advice to more than 5,000 accountancy practices and in total several hundred thousand members of various trade associations and federations.

Q How do I apply?

AThere are two methods that you can use to apply for cover.

1. Contact Abbey Tax on 0845 223 2727. Pay by card, direct debit or cheque, OR

2. Print & complete the required application form or applications from the document library.