A free benefit to aid members if they are subject to a tax investigation by HM Revenue & Customs.
MU paying members have access to a tax investigation insurance benefit, for which no registration is required.
The scheme will cover:
Each claim is subject to an excess of £250.
Aspect enquiries are subject to a limit of indemnity of £2,750. All other claims have a limit of indemnity of £25,000. The policy will provide for an Abbey Tax Protection Consultant to represent members in the event of a claim being accepted under the insurance policy.
Please be aware that MU members should notify Abbey Tax in writing as soon as they are aware of any event which may give rise to a claim and that the insurer’s consent is required before Professional Expenses are incurred.
Cover does not extend to include Limited Companies associated with the member. However, members can opt for additionalcover, for which the premium will be:
To arrange additional cover, please telephone Abbey Tax on 0845 223 2727, quoting ‘MU’. The extent of the additional cover is as summarised below, plus Corporation Tax, Full and Aspect Enquiries.
This is a summary only. Full terms and conditions can be found in the Professional Expenses Insurance (PEI) Policy available from Abbey Tax Protection (ATP) upon request. The PEI is insured by Markel Insurance Company Limited and is arranged by ATP and Hencilla Canworth Ltd (HCL). The insurance is for the period 1 January to 31 December.
The Policyholder is the Musicians’ Union and all current fully paid up members. Members are responsible for notifying claims during the period of insurance. If a member believes that a claim should be made, they should telephone Abbey Tax on 0870 166 6271 or email firstname.lastname@example.org
The trigger point is the issue of the S9A, S12AC TMA 70 Notice by the Inspector of Taxes and a request to examine all the business books and records used in the preparation of the Self Assessment Return.
The trigger point is the issue of the S9A or S12AC TMA 70 Notice by the Inspector of Taxes where there is a request to examine just certain boxes on the Return, subject to an inner limit of indemnity of £2,750.
Cover is also provided for HMRC IR35 Status disputes. However, there must be a written Contract for Services in respect of the liabilities which are being disputed. The Contract must have been strictly adhered to and there must be a reasonable prospect of successfully contesting the Revenue’s allegations.
The cover is in respect of PAYE, P11D and NIC disputes and the trigger point is the issue of a letter, assessment or notice by HMRC, following an HMRC visit, where there is a prospect of reducing the alleged liabilities.
The trigger point is the issue of a written decision or assessment by HMRC, following a control visit, where there is a prospect of reducing the alleged VAT liabilities.
The trigger point is a written request from HMRC to inspect assets, documents, records or business premises in accordance with Schedule 36 Finance Act 2008 in respect of Income Tax, PAYE, NIC, VAT & CGT. These enquiries are subject to an inner limit of indemnity of £2,750.