a) A formally notified aspect or full enquiry into the insured's tax affairs.
b) A dispute about the insured's compliance with regulations relation to:
i) Value Added Tax, or
ii) Pay As You Earn, or
iii) Social Security, or
iv) National Insurance Contributions, or
v) IR35.
following a compliance check by HM Revenue & Customs.
c) An enquiry into the insured's tax affairs arising from an alleged discover by HM Revenue & Customs.
Provided that:
i) All returns are completed and have been submitted within the statutory timescales permitted.
ii) The insured keeps property records in accordance with statutory requirements.
iii) In respect of any appealable matter the insured has requested an Internal Review from HM Revenue & Customs or the Revenue Commissioners on the Republic of Ireland where available.
Any claim relating to:
1. Tax returns which result in HM Revenue & Customs (or the Revenue Commissioner in the Republic of Ireland) imposing a penalty or claiming interest or which contain negligent misstatements.
2. An investigation by the Specialist Investigations Branch of HM Revenue & Customs or the Investigations & Prosecution Division of the Revenue Commissioners in the Republic of Ireland.
3. Where the Disclosure of Tax Avoidance Scheme Regulations apply or should apply to the financial arrangements of the party making a claim under this policy.
4. Any enquiry that concerns assets, monies or wealth outside of Great Britain and Northern Ireland or the Republic of Ireland.
5. The insured's failure to register for VAT.
