understanding financial jargon
Tax and VAT Investigation Insurance
Tax and VAT investigation insurance covers the legal costs and expenses of appealing against any terms and conditions imposed by HM Revenue and Customs (HMRC or the Inland Revenue) as a result of an in-depth investigation. The terms and conditions imposed by HMRC may include PAYE tax arrangements, VAT arrangements, and or business tax arrangements. For this insurance to be valid the business must demonstrate that they:
- have fully complied with the legal requirements for the maintenance of books of accounts and tax returns.
- have all account and tax returns within the required time limits
- was VAT-registered when any alleged VAT offence occurred
What to do if you need more help
If you need more help with your specific commercial loan, mortgage or insurance requirement please speak to a professional financial adviser.
We hope you found this information useful.
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