Does anyone know of any brokers that provide revenue audit insurance that covers the cost of the accountants fees in the event of an audit.
Replies (3)
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FSB membership - Tax Enquiry Insurance
Membership of the Federation of Small Business (FSB) comes with Tax Enquiry Insurance included in the annual subsciption price.
Alternatively some accountants offer a tax enquiry protection at a fee or at a premium from companies such as Abbey Tax or PFP. People from PFP or Abbey Tax are likely to claim that their policies are better than that provided by FSB, but I've not seen any proof of this being a true fact.
Qdos
We use Qdos, and have had no problems (but not many claims, and only small ones).
Regarding the level of coverage, I think you would need to examine the policies closely to see what some don't cover.
FSB Recommendation
I have experience of the help FSB provide as part of their membership package & I have to say that it was excellent.
The individual assigned to help us was a former HMRC inspector. He knew just what to say to them to minimise the pain of the process & we achieved a very satisfactory outcome with very little disruption to our business.
The FSB membership fee is a bargain!