Free Tax & VAT Investigation Insurance
Legal advice and protection for your business.
As of April 2009, HMRC have been able to visit business premises and inspect all tax records. Thousands of individuals and small businesses face random Tax and VAT investigations each year by HMRC and in the event of such an enquiry, you would need assistance from your accountant to guide you through the process. The average cost of this type of investigation is around £1,200 to the business owner, but in some cases it can be more depending on the length of investigation and your accountancy fees.
Of course, it’s not certain to happen to you or your business, but if it did would you be happy to finance this unforeseen cost?
"Fortunately, as a Retail Merchant Services member you are automatically signed up for free Tax and VAT Investigation Insurance that will cover the professional costs of dealing with this kind of investigation (up to £50,000) including: a tax enquiry, an employer compliance dispute or a VAT dispute."
There are specialist insurance providers that can provide this cover, but the typical cost to the business owner is around £300 a year. As a Retail Merchant Services member you will be covered year after year and it won’t cost you anything in insurance cost or unexpected fees, giving you peace of mind and protection.
If you have a business insurance policy you may already have legal expenses insurance included, or you may be paying for this through your accountant fees.
As a Retail Merchant Services member you're automatically signed up for this benefit. Please submit the form below to receive your policy wording and relevant contact numbers.