Insurance Cover

aj9648

Hi

I run a small payroll outfit - I had a query from a client who has recently gone through a HMRC investigation who was asking if I had insurance to cover if there was a PAYE investigation

I am a bit confused as to what kind of insurance they are referring to?

Savvy_Sue

Our auditors (small charity) offer this (at a price) and I think some accountants do too.

If HMRC come investigating, it can be very time-consuming, ie either someone who'd normally be doing something else has to spend a lot of time satisfying HMRC, OR you have to ask your accountant / payroll provider a lot of questions, and they might quite reasonably charge extra for answering them.

Here's an outline of such cover from the FSB. Note it doesn't just cover payroll.