Frequently asked questions

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0345 223 2727

for advice, a detailed quotation
and cover

Do I really need Tax Defence?

With the current economic climate in turmoil, the Government is likely to focus on tax enquiries to help fill the black hole in the economy, therefore every individual and business should have protection in place to safeguard them from the costs of a tax enquiry.

Tax Defence allows you to properly defend your business during an investigation without the worry of paying the fees of an expert.

Even if your returns and housekeeping are fine, HM Revenue & Customs is able to undertake investigations on a purely random basis and there is no recourse to them for reimbursement of professional representation fees - even if nothing is wrong.

In addition, there may be areas of tax which you may have handled in good faith, but the Inspector may hold an alternative view; the professional costs incurred in dealing with these enquiries could be significant.

Tax Defence costs less than an hour or two of partner time for a tax expert and is easy to buy.

Which policy is right for me?

There are two types of Tax Defence cover - those for business and personal cover.

Business cover applies to all types of business - companies, partnerships and sole traders. It applies to all the different taxes that a business may find itself paying… the most common are taxes on profit, capital gains and VAT but, if you have employees, then PAYE and NI as well.

Personal cover applies to individuals who may also be directors, partners and sole proprietors of businesses. It will cover you as an individual for such things as salary, rent or investment income. If you have business cover it is a simple matter to add individual cover for the numbers of people required. You can also buy personal cover on its own.

If you need help deciding which policy is right for you or your situation is complex call us to discuss you case on 0345 223 2727 - Monday to Friday 9.00am to 5.00pm.

How do I buy the cover?

Complete the simple online application form and we will provide you with an immediate quotation. If you are happy with our quote please check the declaration box and we will issue you with the insurance documentation by post within 7 days. The insurance will commence from the date the returned documentation and payment are received.

Can directors, partners or proprietors protect against investigations into their personal tax?

If you take out cover on behalf of your business, we are able to offer to cover your directors, partners or proprietors against the costs of a dispute involving their personal tax for only £60.00 each.

This personal tax cover is in respect of PAYE income and benefits-in-kind from the directors, partners or proprietors employment with the insured business but will also extend to ancillary sources of income such as bank interest and dividends.

If the directors, partners or proprietors have other sources of income such as self-employed income and income from property, then he/she will need to take out a business premium in his/her own right to ensure that all of the personal Self Assessment Income Tax affairs are adequately covered.

Isn't it more cost effective to take the risk and pay for advice only when I need it?

Investigations can be prolonged and expensive so why take the risk? The premium that we have been able to secure is less than you are likely to be quoted if you buy this type of insurance from an insurance broker.

For a very modest premium we will provide you with up to £75,000 of professional representation; why take the chance?

Abbey Tax is a trading division of Abbey Tax & Consultancy Services Limited (ATCS).
Registered in England and Wales No. 08246256. VAT number. 245 7363 49
Registered Office: 20 Fenchurch Street, London EC3M 3AZ.
Markel Corporation is the ultimate holding company for ATCS.