Specialist insurances and IR35 advice
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May 19th, 2017
Being caught on the wrong side of IR35 can be a very costly and devastating experience for a contractor, and we're proud to announce that we will shortly be launching a range of specific IR35 insurances, tailored to the specific needs of contractors, freelancers and consultants, to defend against just that.
Our IR35 Tax Investigation Insurance will provide cover for the professional fees incurred in defending a range of HMRC enquiries, whilst our IR35 Tax Investigation & Liabilities Insurance will provide not only representation for defending a range of HMRC enquiries, but also covers 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.
We will also be offering the option 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 will include 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|
Representation will be provided from a leading UK tax and IR35 specialist to ensure that any HMRC enquiry is concluded swiftly and hassle free from the outset through to conclusion. Our IR35 and tax 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.
Keep an eye out in the coming months for the launch of these products, allowing you to ensure you have complete peace of mind should you be subject to a HMRC enquiry.