Tax Investigation Insurance

chrismac1

I'm a bit concerned your accountant has not had a proper discussion with you about this. For myself, every new client gets a risk assessment and yours would be LOW, albeit I would probably point out that trying to conduct an enquiry from overseas can be challenging. (In practice if there were meetings your accountant would probably handle them.)

Every client also gets a summary of what the insurance covers and what it does not. The main exclusions are for returns submitted late, so the "January brigade" with poor record-keeping who often file late can't claim.

Then on every set of accounts - even just a rental - I will highlight any risk areas. With rentals the commonest risk area is where large repairs or renewals have been carried out.

I thought all decent accountants did this sort of thing, yours seems to just expect you to sign up with no information.