Q: What is professional fee protection?
If HMRC raise an enquiry into your tax affairs or challenge your IR35 status (which we expect them to do more and more) you will be covered for up to £75,000 of professional fees.
Q: Why do we include professional fee protection within our monthly service?
We have received a growing number of queries from our clients about the possibility of an HMRC investigation. To ensure peace of mind we have added professional fee protection as standard to our monthly service so you you won’t receive any nasty surprises or additional fees.
Not all contractor accountants include this service within their fee, so ask yourself – ‘can I afford not to have this cover if I’m investigated?’
Q: Will it cost me any more?
No, this service is part of our monthly all inclusive fee of £105+VAT. This covers everything you’ll need to contract, with no nasty fees for extras that we know you require. To see the full inclusion of what the monthly fee covers, please visit our fixed price service page.
Q: What happens if I’m investigated by HMRC?
You will be covered for professional fees for any new enquiry raised from 1 October 2015 (even if it relates to a period prior to 1 October 2015), and while you remain a client of Intouch Accounting, subject to the general terms and conditions of the monthly service. HMRC may send you a letter directly. This does not mean that they will also send the letter to your current accountant. You can forward any correspondence to your Personal Accountant straight away.
Q: When does the protection begin / end?
During the period of being an Intouch client, should you receive a letter from HMRC you will be covered by the fee protection service.
Q: Am I covered if I’m already being investigated?
Unfortunately not. If you are already being investigated prior to becoming an Intouch client, then you will not be covered for any professional fees. The pre-existing matter will need to be concluded before you can benefit from the service through Intouch.
Q: What happens if I’m investigated for a contract that started before joining Intouch?
If you receive a letter from HMRC regarding a contract that you started prior to becoming an Intouch client, as long as you receive the letter within the time period of being a client then you will be covered.
Q: Why don’t all contractor accountants provide this cover as part of their monthly service cost?
Many other contractor accountants charge separately for this service, as some investigations can take many hours to resolve and additional accountancy costs can soon add up. At Intouch we know that it is an essential for contractors to be able to work confidently.
Q: How do I sign up?
Simply call us on 01202 912 831 or email us at firstname.lastname@example.org, and our team will help you on your way.
Q: How much would this service normally cost?
Purchased separately, professional fee protection could cost you £249 (inc taxes) annually. We offer it as part of our fixed monthly fee, which includes everything you need to run your Limited Company smoothly and efficiently.