Fee protection - Consider your options. By Dan Martin

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HM Revenue & Customs' clampdown on tax evasion over recent years has led to a growing number of firms and individuals turning to professional expenses insurance to cover the costs involved with tax investigations. For accountants, offering the service ' also known as fee protection - to clients can provide a valuable profit generator but taking on the wrong type of policy could prove damaging.

Over the past decade, the concept of tax investigations has been transformed. HMRC has got tougher on non-compliance and the introduction of self-assessment in 1996 added a 'random enquiry' element meaning almost anyone now faces the prospect of investigation. Pre-SA, the Revenue had to provide a reason for invest...

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