Tax Insurance

Why Tax Insurance?

Tax insurance gives you a way to manage uncertainty in your tax positions, both in and outside of transactions. Tax risks show up in a number of different ways. They could be the result of a business’s day-to-day operations, a previous restructure or divestment, or a historic tax position.

If a tax authority rules against you for any of these reasons, your policy covers the resulting tax liability and associated costs.

Big Four-level tax advice and solutions

We support you with advisors who have either worked in the 'Big Four' accountancy firms or led tax teams within global law firms. They’ve placed tax insurance policies all over the world and will be on top of every detail for you.

Their deep market knowledge enables them to achieve fantastic results in tight timeframes.
LDC Group
“Having used the Miller team to broker a number of very difficult insurance solutions on key transactions, we have been impressed by their responsiveness, service and process which has freed my team up to focus on our primary legal service role for our clients.”
Herbert Smith
We’ve worked with a range of brokers in the space – and the Miller team is a clear standout.
Deutsche Bank

What are the benefits?

1. Provides certainty

Gives you certainty around complex tax issues uncovered in the due diligence process. Businesses can use it outside M&A too for the same benefit.

2. Keeps deals moving

Avoids the need for indemnities, escrow accounts, or price adjustments in M&A transactions.

3. Removes friction from negotiations

Transfers and ring-fences risks that are blocking negotiations.

4. Unlocks capital

Releases funds businesses would otherwise keep in reserve for potential tax liabilities.

5. Protects individuals and liquidators

Provides cover for ongoing liabilities or personal tax exposures.

How a policy works

Policyholder	Buyer, seller, target, or other entity (for non-M&A risks).
Policy period	Usually 7 to 10 years, following the statute of limitations.
What you’re typically covered for	Your estimated tax liability. Interest and penalties from the tax authority. Any costs defending the claim. Any required ‘gross-up’ if required by local tax law.
How pricing works	What you pay One-off premium on placement. How it's calculated As a percentage of the policy limit (which usually mirrors your estimated tax liability. Rates vary by region: UK risks: 1.8 – 2.2% European risks: 2 – 6%.
Key exclusions	Unfortunately, these risks are generally out of scope: any transactions that are notifiable under tax avoidance schemes tax risks already subject to challenge by tax authorities.
How much time we need	Typically, around two weeks from enquiry to binding – but we can move faster for time-sensitive deals.

WHY MILLER?

Your transactions are complex, time-sensitive and highly demanding. That’s why we choose a partner-led approach where our senior people give you constant support.

And, as a team, we hustle harder than any other M&A broker in the industry.

Find Out More