tax enquiry insurance

[Maslins]

All I'd say here is don't buy it from your accountant. Whenever I've heard any accountants talk about offering this to their clients, they chuckle about the fact they add a huge markup on the premium itself, then if ever HMRC query anything, the accountant can get paid £££ from the insurer for dealing with it.

Fear sells, and it's an easy way your accountant can cream extra cash from you without you realising.

If you're going to get insurance like this, make sure it benefits you, not your accountant.

[jamesbrown]

All I'd say here is don't buy it from your accountant. Whenever I've heard any accountants talk about offering this to their clients, they chuckle about the fact they add a huge markup on the premium itself, then if ever HMRC query anything, the accountant can get paid £££ from the insurer for dealing with it.

Fear sells, and it's an easy way your accountant can cream extra cash from you without you realising.

If you're going to get insurance like this, make sure it benefits you, not your accountant.

Apart from anything else, this is one way to guarantee an MSCP/MSC relationship under ITEPA Ch. 9, so if you know of any accountants doing that, I despair.

[Keanu2020]

oh the FLC hasn’t been forgotten - I’m
expecting it to appear in the next Labour Government as a fix for self employment - basically it will make you PAYE but allow some money to be kept untaxed for use during periods where you aren’t working.

Good God, who thinks these things up.

[jamesbrown]

Good God, who thinks these things up.

IPSE