Specialist insurances and IR35 advice
Being caught on the wrong side of IR35 tax law can be a very costly and devastating experience for a contractor. Our IR35 Tax Investigation & Liabilities Insurance is our most comprehensive tax insurance, providing representation for a HMRC enquiry, and has been tailored specifically for contractors so that it extends to provide indemnity for the tax and NIC liability, interest and any penalty applied by HMRC should you be found to be inside of IR35, a total liability that can run in to tens of thousands of pounds, meaning being protected against this is the simple way to ensure peace of mind and being safe in the knowledge you are protected should the worst happen.
Representation is provided by our leading tax and IR35 specialists to ensure that any HMRC enquiry is concluded swiftly and hassle free from the outset through to conclusion. Our tax and IR35 experts have vast experience in dealing with HMRC enquiries, and unlike a general accountant they specialise in this area and deal with cases throughout the year. They have a wealth of experience providing policies for specialist industries, including designers, scientific organisations, photographers, and IT contractors tax investigation cover.
Want to calculate your potential IR35 tax liability? Use our indicative guide below to find out how much liability cover you require.
It is important to ensure that you have selected the appropriate cover for your business requirements. Should you have elected to under insure you do so at your own financial risk. It is best practice to consider your potential financial exposure when purchasing or renewing a policy to ensure you have adequate cover in place.
|Day Rate||1 Year||2 Years||3 Years||4 Years|
The Larsen Howie IR35 Tax Liability Insurance Calculator uses a series of assumptions based on an average contractor to provide the end liability exposure, and is only an assumption. The exact liability you would owe is fully dependent on your precise personal circumstance and the outcome of any HMRC enquiry. You must take every step to ensure that you work out your full exposure yourself and only use this as an approximate guide. Larsen Howie takes no responsibility for any underinsurance based on you using the Larsen Howie Liability Calculator.
We also offer the option for you to extend cover to include HMRC Section 660A enquiries, which looks into the arrangements a contractor has in place where income is diverted to a family member, usually spouses, civil partners and/or children (who pay income tax at a lower rate) in order to reduce their tax liabilities.
Our IR35 Tax Investigation & Liabilities Insurance includes cover for:
|IR35 status enquiries and disputes|
|IR35 back tax, NICs, interest and penalties applied by HMRC|
|Section 660A enquiries and disputes|
|Section 660A liabilities (optional)|
|PAYE Compliance Checks and disputes|
|NIC enquiries and disputes|
|VAT Compliance Checks, visits, inspections and disputes|
|HMRC Compliance Checks, investigations, enquiries and disputes|
|Hearings at the Commissioners and Tax Tribunals|
With premiums starting from just £120.00 (inclusive of Insurance Premium Tax), the policy being underwritten by a leading speciality lines insurer, and with claims handled internally by our highly experienced IR35 experts, our IR35 Tax Investigation Insurance and IT contractors tax investigation cover policies are as good as they come.
|Insurance Product Information Document (IPID)|
|Sample Policy Wording|
|Sample Policy Summary|
Furthermore, for just an extra £180.00 (inclusive of Insurance Premium Tax) you can extend the cover for liabilities resultant from a Section 660A enquiry.