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  • Tax

    Audit Insurance

    I am a non UK resident and recently changed accountants, the tax calculation on my recent return was significantly lower than last year. Could anyone recommend audit insurance for a non res? Thank you in advance,

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    Why not ask your accountant.My accountants offer an insurance product as part of their service

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    I intend to but as I know nothing about fee protection insurance, I thought I would  ask here first to see if there is anything in particular that I should know or look for when purchasing this type of product.

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    There are only three main players in this insurance market now.  Our firm uses Abbey Tax for protecting our clients , the other two main players are Croner Taxwise and PFP.  I am not sure whether any of these sell cover direct to the public.  As an alternative you could look to join the Federation of Small Business who provide this and legal protection as part of their membership fee or possibly approach DAS who are a large insurance group to see if they would provide cover.  Personally I would recommend that you look at The Federation of Small Business since they provide a lot of other services as well as Fee Protection Insurance.

    Regards

    Nigel

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    Nigel Reynolds FCCA CMgr FCMI

    Property Tax Specialist

    Reynolds and Co

    http://www.reynoldsandco.co.uk


    Worth ringing the RLA as I think that it is included with your membership. Not sure if your off shore status would be a problem though.

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    Thanks for the suggestion Glenn but I did look into it and it covers only UK landlords

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    Look at whether  NLA's  Tax Insurance covers you as Non-uk resident ?

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    Thanks Chris but I spoke to someone at the FSB as Nigel suggested and took out their Business Essentials package. The only part of their package I couldnt take advantage of as a non resident was their business banking, the cost was a one off £30 joining fee and £142 for the year.

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