At M Wasley Chapman & Co we offer tax investigation insurance for clients. We recommend that our clients seriously consider joining the scheme.
Since April 2009 HMRC are able to visit business premises to inspect records covering all taxes including corporate, income, PAYE, NI, Capital Gains and VAT. They can now also issue written queries before you have submitted your annual tax returns.
Why Tax Investigation Insurance is Essential
Tax investigation insurance is designed to protect individuals and businesses from the unexpected costs of an HMRC tax enquiry. Even if your tax affairs are in perfect order, HMRC can still open a tax investigation through random selection or risk profiling. These investigations can cover income tax, VAT, PAYE, and more, often requiring extensive paperwork and time.
Without cover, the professional fees involved in defending a tax enquiry can run into thousands of pounds. Our investigation insurance provides essential financial protection, ensuring you’re not left out of pocket simply for having your tax returns reviewed.
Who Needs Tax Investigation Protection?
Anyone who pays tax could face scrutiny from HMRC. From self-employed individuals to limited companies, a tax investigation can happen at any time. Having fee protection insurance gives you peace of mind, knowing that you’re covered for accountancy fees during a review.
Those who benefit most from tax investigation protection include:
- Sole traders and freelancers
- Limited companies of all sizes
- Small business owners
- Landlords with rental income
- Individuals submitting a self assessment tax return
Why Choose M Wasley Chapman & Co?
At M Wasley Chapman & Co, we understand the stress and disruption a tax investigation can bring. That’s why we offer a comprehensive tax investigation protection service backed by a robust policy through Markel Tax. Our service provides clients with full representation during HMRC enquiries and claims for up to £75,000 in professional fees.
With decades of experience and a strong track record in dealing with tax and VAT investigations, our team is here to help you navigate the process smoothly. We’re proud to support individuals and businesses across the North East and North Yorkshire with reliable advice, practical support, and substantial financial protection.
Peace of Mind for Small Business Owners
As a small business owner, you’re already juggling countless responsibilities; the last thing you need is the stress of a surprise HMRC enquiry. Tax investigations can be disruptive, time-consuming, and expensive, even when you’ve done everything by the book. With our tax investigation insurance, you’ll have the protection you need to handle any HMRC investigation confidently, without the added worry of mounting accountancy fees.
Our fee protection insurance ensures that your professional costs are covered, giving you the financial protection and reassurance to focus on running your business. Whether it’s income tax, VAT, PAYE, or self assessment tax returns, we’ve got your back.
Protecting Local Businesses Since 1918
At M Wasley Chapman & Co, we’ve been supporting individuals, families, and businesses across the North East and North Yorkshire for over a century. Since 1918, our accountancy practice has built a reputation for trusted advice, professional service, and client-first values.
We understand how vital financial clarity and protection are in today’s complex tax environment. That’s why we’re proud to offer investigation insurance services that give our clients peace of mind and comprehensive cover when it matters most. Our long-standing commitment to the local business community is what sets us apart.
Tax Investigation Insurance
Most enquires are generated by computer “risk profiling” and many are selected completely at random. As a result, HMRC sometimes picks the wrong targets. Even if you have done nothing wrong, the taxman will still review your records for errors.
You will be fully protected by the service and the practice will claim under an insurance policy which provides cover up to £75,000 of professional costs in the following circumstances:
- Dealing with any correspondence form HMRC
- Attendance at any meeting with HMRC
- Appeal to the First-tier Tribunal or Upper Tribunal
Some costs will not be covered under the service, including the following:
- Routine compliance work, e.g. preparing your tax return
- Overseeing HMRC whilst they review your records
- Outstanding taxes, penalties, interest or any other amounts due to HMRC
- Defence of criminal prosecution cases or serious fraud enquires
- Fees relating to pre-existing enquires
