insurance against accountancy fees for HMR&C investigation

[logoman]

Every year my accountant send me a letter offereing this insurance.
£155 for a Limited Co. and £45 per director.

my business is very simple, there's only me, and I do graphic design.
what's the risk?

[anonymous-user]

Pot luck i'd guess, look at joining the FSB.

[ukdj]

The risk is having an HMRC inspector or two rifling through the last 6 years of your accounts trying to find anything they can claim back :-(

Are you confident enough to defend their questions and understand everything your accountant has done over this period ?

how much does your accountant charge per hour, as a visit will cost you several ?

all in it's money well spent if you get a visit, but it's a gamble if you will actually get one.

I've only had one in the last ten years - so whey up the chances vs the costs and make your decision.

[Soovy]

Sounds VERY cheap to me.

[HRG]

Dave_ST220 said:

Pot luck i'd guess, look at joining the FSB.

Agreed, the insurance is included in membership along with loads of other benefits.