Tax investigation (IR35 insurance) cover will protect you in the event that you in the event that an enquiry is made into your tax return, or via a PAYE compliance visit. In some cases, this could result in a Tax Tribunal (formerly Commissioners’ Hearing).
Clearly, the costs of defending yourself during an investigation can be substantial, and for this reason, many small business owners and contractors take out tax protection insurance. Contractors and freelancers, in particular, often take out cover to protect them in the event of an IR35 dispute.
Policies of this type are not expensive, and ensure that all representation costs are covered by the insurer.
Our long-term partners at Qdos Consulting can provide cover for just £115 (including IPT) per year, including cover for retrospective tax years.
IR35 Insurance – What is included?
Tax protection covers a wide range of possible tax disputes, including IR35 insurance.
The cover provides full expert representation in the case of PAYE compliance reviews, and covers representation fees of up to £50,000 in the defence of:
- IR35 disputes
- PAYE or NIC disputes
- VAT disputes
- Section 660 enquiries
- HMRC aspect enquiries or full enquiries
How do you take out tax investigation cover?
To find out more about the insurance products available, simply visit Qdos Consulting.
Visit Company Bug, a dedicated site for IT contractors for more information on What is IR35 and IR35 insurance.
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