Fee Protection Insurance

At Thompson Jenner we operate a Fee Protection Scheme for clients supported by Taxwise Limited whereby we have insured our practice to provide insurance to participating clients at an affordable fixed annual fee. Taxwise is part of the Peninsula Business Services group and is one of the largest providers of Fee Protection Insurance in the marketplace. 

Why do we offer Fee Protection?

Anyone that pays tax can come under scrutiny from HMRC. Every year HMRC starts enquiries into many thousands of personal and business tax returns and accounts. VAT and PAYE payments are also thoroughly checked. The aim in every case is to collect more tax.

In the new tax year HMRC will have new powers regarding “information requests” and “visits” in connection with certain aspects of your tax affairs, and in recent times there has been an increase in the number of clients whose tax returns are investigated or disputed, regardless of their size and income status.

The cost of defending these investigations can run into thousands of pounds, even if little or no extra tax is paid at the end of the enquiry. We therefore strongly recommend that all of our clients join the scheme.

What does the Scheme provide?

Fee Protection Insurance - provides representation costs for up to £75,000 in any one claim arising from:

• Corporation Tax Self Assessment Full & Aspect Enquiries
• Income Tax Self Assessment Full & Aspect Enquiries
• Business Inspection Notices under Schedule 36 (Interventions)
• PAYE / NIC Employer Compliance Visits and Disputes
• Value Added Tax Visits and Disputes
• IR35 Disputes and CIS Disputes
• Repayment claims
• Special Civil Investigation and Judicial Review (Indemnity £5,000)

In addition the following benefits will be provided at no additional premium costs:

• Automatic private individual cover for Spouses of all Directors / Partners of insured business clients at the full £75,000 as per the relevant cover plan.

There is NO EXCESS applicable to any part of the Fee Protection Scheme.

Employment Services & Health & Safety Advice Line - provides unlimited telephonic advisory services on Employment Law and Health & Safety legislation for business clients.

For more details or if you would like to join the scheme, please contact our Exeter office on: 01392 258553 or Email Andrea Newman at: AndreaN@tjllp.com