If the business receives notice of a tax audit, review or investigation, notify Webber Insurance promptly.

Do not wait until the audit has been completed.

What should I provide? #

Provide documents such as:

• Audit or review notice.
• Correspondence from the authority.
• Date the business first became aware of the audit.
• Tax or financial periods being reviewed.
• Taxes involved.
• Details of the accountant or tax adviser.
• Any professional costs already incurred.

Should I appoint an adviser immediately? #

The business may already have an accountant or tax agent assisting with the matter.

However, contact Webber Insurance before incurring substantial additional professional costs where practical.

The insurer may need to:

• Confirm the audit is covered.
• Approve professional advisers.
• Agree hourly rates.
• Confirm the applicable limit.

Should I wait until the final tax outcome is known? #

No.

Tax Audit Insurance generally deals with the professional costs of responding to the audit rather than whether additional tax is ultimately payable.

Notification should occur when the insured audit begins.

What invoices should I keep? #

Retain detailed invoices showing:

• Professional.
• Work performed.
• Date.
• Time spent.
• Amount charged.

The insurer may need to distinguish insured audit costs from ordinary accounting work.

Does notifying Webber Insurance notify the tax authority? #

No.

The tax audit itself continues directly between the business, its advisers and the relevant authority.

The insurance claim is a separate process.