PFP Tax Investigations

PFP Tax Investigation Service

Tax Fee Protection Insurance (TFPI) covers the cost of penalties incurred as a consequence of an HMRC investigation. Here at JR Accounts, we utilise the services of Professional Fee Protection (PFP), which is regulated by the Financial Conduct Authority (FCA). With a sound tax-investigation insurance policy in place, your business will be protected in the event of an HMRC check – which could arise as a result of underpayment in a Self-Assessment, Code of Practice 9 (COP9), Pay As You Earn (PAYE) or Value Added Tax (VAT) scenario.

The full list of tax areas covered by TFPI is extensive, making investment in such a policy an invaluable business expense. There are, of course, also areas which are not covered, so discussed the suitability of any plan is of the utmost importance. Through our team of experts, you can be confident that we’ll provide you with the very best cover to keep you protected in any eventuality, and will offer full support and advice when required.

Peace of mind

PFP tax insurance protects your business from any costs incurred by an investigation. And even if action is taken against your company, it can provide you with assistance should you decide to appeal. Among those situations in which you can benefit, you’ll find cover will help with:

VAT disputes
PAYE disputes
COP3 investigations
Self-Assessment investigations
IR35 checks and disputes

PFP tax investigation accountants in Ilford

If you’d like to know more about how PFP tax investigation insurance can benefit your business (or if you have questions about HMRC investigations in general), please don’t hesitate to get in touch with our Ilford accountants at JR Accounts today. We’ll be happy to provide as much information as we can to ensure you’re protected against any potential fees and costs.

PFP (Professional Fee Protection) is not a tax, but an insurance that covers your business in the event of an HMRC investigation into your accounts. This may arise as a result of underpayment of taxes such as VAT or because of IR35 disputes, for example. PFP helps to protect your organisation from not only the costs involved with an investigation, but also those necessary for obtaining assistance should you wish to appeal.

The answer to this question depends on the circumstances of the investigation and the tax fee protection policy in place. On the whole, the cost of PFP tax services is not an allowable expense, if the enquiry reveals inaccuracies that were made carelessly or deliberately, or if inaccuracies and additional liabilities are revealed. Speak to our team today for more details according to your specific case.