Out their in cyber space, there are thousands if not millions of you with different jobs and qualifications.
Can you answer any questions, or do you have a question!

As I have a modest income from a few sources, I use an accountant to input the figures I give him to process my online tax return. It only costs me about £300 per year, so I consider it money well spent to get it right.
For the first time they have now sent me an invoice for payment in advance for an insurance policy (provided by Qdos Vantage) to cover me from 'any professional fees incurred in respect to a possible investigation performed by HMRC'. This comes at a cost of £120.
Has anyone experience of this or opinions, please? Money well spent or a complete rip off?
I am just a private individual, not a sole trader, so don't submit any accounts under a company name.

I don't mind wasting my money on insurance. Hopefully, it should always be a waste of money.

Wouldn't it have been nice to be a lovely waste of money for all those California householders who lost their homes in the fires?

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Thanks, but the analogy isn't quite the same.
According to Martin Lewis (Moneysavingexpert) the chance of being investigated by HMRC as a private individual is about 3%. I have a feeling that the chance of wild fires in California is about the same risk as seeing a tornado in tornado alley!

Personally I wouldn't bother with the insurance.

There are two reasons you are likely to be investigated:
a) HMRC have evidence your return is incorrect. In which case it's highly likely the insurance won't cover you unless HMRC have got their information wrong
b) HMRC assert the tax calculation done by your accountants is wrong. In which case you shouldn't be paying if your accountants have got it wrong and don't need insurance or alternatively your accountants have got it right in which case it should be easily resolvable.


I wouldn't bother. I don't. Especially as your affairs aren't complex.

Self insure I’d say.
1. If your accountants have messed up then they pay.
2. if a random enquiry (less likely simply beacause you use accountants) then the process is routine.
3. If you’ve not made full and frank disclosure to your accountants I’d bet the insurance is void?
From personal experience an enquiry is scary but the people I dealt with were very fair and helpful in pointing out the mistake I’d made at the expense of the underpaid tax.

If your affairs are fairly simple then I would say do it yourself and as for insurance definitely no.

Just be honest with your figures and if they are wrong then you will simply be asked to correct them, I’ve always found the HMRC very amiable and helpful.

Main point is Harry to get them in before the deadlines.

What's a tax return? :-)

Thanks guys for the input.
My research has turned up the fact that if I bought the insurance policy myself it would cost around £75, so clearly the accountancy firm are adding their 'administration fee'.
However, they counter this by saying that I will have access to a helpline for advice on health & safety and Employment law! Hmmmmm..............

Skinny, clearly with your offshore accounts you are outside UK HMRC jurisdiction! ;o)

Skinny offshore? Give me your number right now Skinny as I must do my civic duty )-: