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Provides cover in respect of professional fees incurred in respect of representation of the policyholder in an HMRC investigation including representation at a First-tier Tribunal, Upper Tribunal and at an appeal against a decision following such a tribunal provided there is a reasonable prospect of reducing the liabilities alleged by HMRC.
The Tax Protection cover provides you with up to £250,000 in respect of the reasonable legal and professional costs and expenses incurred as a result of one of the following enquiries by the HMRC:
- An aspect enquiry following a formal notice being issued under s9A or 12AC of the Taxes Management Act; or s24(1) Schedule 18 of the Finance Act 1998;
- An enquiry into your PAYE, NIC, P11D or P9D records;
- An IR35 enquiry following a formal notice under s24(1) Schedule 18 of the Finance Act 1998, or following an employer compliance visit;
- A VAT enquiry following a written decision, assessment or statement of alleged arrears in respect of your VAT return, or a VAT default surcharge, miscalculation or late registration penalty
following the filing of a tax return or accounts relating to your medical and professional services.
Please refer to the policy wording for full terms, conditions and applicable exclusions