We offer all of our clients a Fee Protection Service. Fee Protection runs on an annual basis from 1 April to 31 March each year and for a small annual fee, set out in the table in the link below, you would be covered against the costs of our fees should you be subject to an enquiry by HM Revenue & Customs (HMRC).
Each year HMRC undertake a large number of tax enquiries into individuals and businesses to check they have paid the right amount of tax. Since 2010 HMRC have strengthened their approach to enquiry work by using wider powers and sophisticated software and consequently secured £30.8 billion of additional tax revenue generated through tackling avoidance, evasion and other non-compliance in 2021/22.
Cover includes any compliance check, visit (regardless of whether a dispute has yet arisen) or investigation started by HMRC regarding compliance with:
Corporation Tax Self-Assessment, VAT, Income Tax Self-Assessment, PAYE, VAT visits, National Insurance, Construction Industry Scheme, IR35, Stamp Duty, Employer Compliance Visits, Check of employer records, Interventions, Capital Gains Tax, National Minimum Wage, Gift Aid legislation and regulations, P11D, Inheritance Tax, Child Tax Credits, HMRC use of pre-dispute information and inspection powers under schedule 36.
Tax enquiries can last for months, even years and defending you against HMRC’s detailed questions requires specific expertise and can be time consuming and costly. Indeed, the cost of dealing with an enquiry can amount to thousands of pounds, even if no extra tax is payable.
Summary of fees
Our normal annual fees do not cover the additional professional costs of handling tax enquiries and compliance checks. To give you peace of mind in the event of an enquiry, you’ll be protected against such unexpected costs by subscribing to our Tax Fee Protection Insurance service. View a sample Summary of Service.
| Entity | Annual Fee (inc VAT) |
| Private Clients | £30.00 |
| Sole Traders (NON VAT Registered) | £120.00 |
| Sole Traders (VAT Registered) | £180.00 |
| Partnerships / Ltd Co up to £150,000 | £180.00 |
| Partnerships / Ltd Co between £150,001 to £500,000 | £225.00 |
| Partnerships / Ltd Co between £500,001 to £2m | £315.00 |
| Partnerships / Ltd Co between £2,000,001 to £5m | £420.00 |
| Partnerships / Ltd Co between £5,000,001 to £10m | £630.00 |
| Trusts with rental < £50k | £30.00 |
| Trusts with rental > £50k | £120.00 |
| Trust with trading income | £120.00 |
What you need to do
The service runs on an annual basis every year from 1 April to 31 March, however you can join the scheme at any point. Cover will be in place from the date payment is made to us. Please note, we must be the Tax Agent / have authority to act for you.
To join the scheme please email FeeProtection@nicholsonsca.co.uk, complete the form below confirming the name of the entity/(entities) you want to protect and the total amount due. Please send payment by BACS to sort code 60-13-15 account number 00871265, quoting Fee Protection as your reference.
In doing so you will be confirming that you understand that our data may be shared with Croner-I Taxwise-Protect in order for this service to be fulfilled. Such data will be handled in accordance with the Croner-I Taxwise-Protect Privacy Policy and will only be used to fulfil this service and any associated benefits.
If you have any queries regarding the scheme, please do not hesitate to contact your usual contact at Nicholsons or Leanne Chancellor.
Note that directors, company secretaries, members, partners and their spouses are covered within the business charge unless they have a separate business and/or rental income above £50K (in which case they will need to pay an additional Sole Trader service charge).