Tax Enquiry Insurance policies are available with varying benefits for individuals, small businesses, and accountants. Accountants receive the most benefits from their tax enquiry insurance, both for themselves and for their clients. You can get insurance to cover up to seventy five thousand pounds for any individual income tax, corporate tax, or VAT tax enquiries. In addition to VAT insurance and full and aspect enquiry cover, you also receive IR35 cover and assistance with employer compliance reviews.

There are many other benefits to having tax enquiry insurance as an accountant. You receive free access to tax advice any time that you find it necessary. You will also be able to secure an agent for free to deal with any HMRC enquiry that may arise. You can also often receive discounts on tax, employment, health and safety, and VAT consultancy services. Finally, you can create another source of income for your firm by referring your clients to receive individual tax enquiry insurance policies. 

When you consider all of the benefits that you receive, there is really no reason not to get this coverage. In fact, the small amount you will pay in premiums will be insignificant, especially in comparison with all the money you can save yourself and your clients in the case of an enquiry. Consider also that you can gain more clients by offering these benefits, and you have nothing to lose by getting enquiry insurance.