As a business owner, you're no stranger to risk. But what about the unexpected costs of an Inland Revenue audit? Even if you've done nothing wrong, the professional fees associated with an audit can be a significant financial burden. That's where Audit Shield insurance comes in.
What is Audit Shield insurance?
Audit Shield is an optional tax audit insurance designed to protect individuals and businesses from unexpected professional fees due to Inland Revenue audits, enquiries, investigations, or reviews. It's like having a safety net for your business, giving you peace of mind and financial protection.
Benefits of Audit Shield insurance
So, what are the benefits of having Audit Shield insurance? Here are just a few:
Covers professional fees: Audit Shield covers costs related to your accounting firm's work, as well as fees for legal, bookkeeping, or other specialist advisors up to a set limit. No excess or minimum claim amount: You don't have to worry about meeting a minimum claim amount or paying excess fees. Retrospective coverage: The policy includes retrospective coverage for all previously filed returns, so you're protected even if an audit relates to a past return. Tax-deductible premium: The premium is tax-deductible, making it a cost-effective way to protect your business. One-off annual fee: You only pay one annual fee, making it easy to budget for.
**Why choose Audit Shield insurance? ** In today's uncertain business environment, it's essential to protect your business from unexpected costs. Audit Shield insurance gives you financial protection and peace of mind, allowing you to focus on what matters most - growing your business.
By taking out Audit Shield insurance, you can:
Reduce financial risk and uncertainty
Protect your business from unexpected costs
Ensure you're prepared for any Inland Revenue audit or enquiry
Focus on growing your business with confidence
Audit Shield insurance is an essential protection for any business. With its comprehensive coverage, tax-deductible premium, and one-off annual fee, it's a cost-effective way to protect your business from unexpected costs. Don't leave your business vulnerable to the risks of an Inland Revenue audit - consider taking out Audit Shield insurance today.
