Investigation Insurance

[Iain-Le-Roi]

Hi

I want to get insurance that protects me in case of a tax investigation. Has anyone got any advise on this or can reccomend any?

How much would you expect to pay and what features would you want included?

Thanks, Iain

[bellymonster]

I've always used http://www.caunceohara.co.uk/.
Costs about £70 a year for £50k of cover.

Never needed to claim so don't know what the service would be like (hope I never have to find out).

[BolshieBastard]

I've always used http://www.caunceohara.co.uk/.
Costs about £70 a year for £50k of cover.

Never needed to claim so don't know what the service would be like (hope I never have to find out).

That's only prof indemnity though isnt it (at 50k)? Legal Expenses cover is £75. But be warned, the policy only states 'reasonable accountancy costs' will be met by the policy.

They may decide £2k is reasonable but it can cost anything over and above £5k depending on the depth of investigation.

What is not covered
(1) Any insured incident arising from a tax avoidance scheme.
(2) Any insured incident caused by the failure of the policyholder to register for Value Added Tax.
(3) Any insured incident arising from any investigation or enquiries undertaken by HM Revenue &
Customs Special Investigation Section or Special Compliance Office.
(4) Any insured incident arising from any investigation or enquiry by HM Revenue & Customs into
alleged dishonesty or alleged criminal offences.
10

[northernladuk]

I would be interested to know if anyone has ever succesfully claimed on this and what the percentages are. We all know someone who has claimed on house/life/car insurance but never on this so how do we know it's not one big cheat.

You know how devious insurance people can be when it comes to paying out and we have half an idea why they might not on other areas from experience.

I would be very dubious about something like this until someone shows me in black and white that it stands up and is actually worthwhile.

Saying that I don't think I have done anything wrong to need this so even less interested in taking it if that makes sense? If I knew my contracts failed IR35 or was being a bit fly by night with the accounts I might consdier it more

[Fred Bloggs]

Try QDOS.

[DiscoStu]

Try QDOS.

WHS

[pzz76077]

Hi

I want to get insurance that protects me in case of a tax investigation. Has anyone got any advise on this or can reccomend any?

How much would you expect to pay and what features would you want included?

Thanks, Iain

Tuliping yourself are we??

Why don't you just tell us what you have done. If we cant help, no insurance can.

Insurance cant be applied retrospectively you know.

PZZ

[malvolio]

Join the PCG. £220 for PCGPlus, covers any tax investigation, no questions asked. As for "does it work?", ask Geoff Jones.

Details at www.pcg.org.uk

[ratewhore]

Following on from what Mal said, once you're in the PCG, Abbey Tax do IR35 insurance which includes any tax and penalties...

Probably doesn't cover dodgy offshore shenanigans though!!

[Iain-Le-Roi]

Tuliping yourself are we??

Why don't you just tell us what you have done. If we cant help, no insurance can.

Insurance cant be applied retrospectively you know.

PZZ

Thanks for all the responses.. sorry not been online for a few days.

As for what I have done, its not really what I have done but what I unfortunately got involved with. If anyone has seen the Sunday/Bradbury thread on here then they will know why I want to get as much cover as possible and also how I have ended up in the situation. Basically I got involved witha partnership umbrella scheme that was too good to be true, and now they have done some partnership accounts which everyone has issue with and still owe us all our money.

The terrible way they have done business and the fact that HMRC are no doubt aware means I want to cover myself as much as possible so I may even look to get partnership insurance too.

I