Hello
Can anyone help me?
I have been asked by a client to have Bookkeepers Investigation Insurance. Neither my broker or my insurance company have ever heard of this and my professional Indemnity doesn’t cover it.
Frankly, I think my client has made it up!
Many thanks
Annie
What type of investigation are they implying? If it’s tax investigation that would be something that you would possibly arrange with your accountant - just in case HMRC decided to audit you.
I can’t imagine why they would want you to have that though - that’s for you to decide not them.
I would ask them what they mean - so long as you have professional indemnity to cover you for any mistakes you make they should be more than happy.
Would be interesting to hear what they have to say - not something I’ve ever encountered.
Yes that’s what I thought. I have advised my client she needs to insure herself for this.
Thanks for the advice
Annie
I know I had investigation insurance with my accountant a while back - you paid them an extra £50 or something on your tax return and then if you got investigated by HMRC, they’d cover the cost of their time in negotiating with HMRC, sorting out the paperwork etc.
I’ve never heard of it for bookkeepers though - you aren’t responsible for the content of what HMRC gets given… So how would you be able to make sure they or their accountant hasn’t screwed up?
That’s like asking a salesperson to be paid on results only when you supply the list - it could be incredibly duff leads.
Yes I am aware of that as my accountant offers it but I think it would be weird for bookkeepers to carry the insurance rather than the client…