Insure yourself against HMRC Investigations for as little as £40 per year!
The risk of a tax enquiry by HM Revenue & Customs (HMRC) has continued to increase and HMRC officers are now using new, wider powers to visit premises and inspect financial records. As a result, tax enquiries are at record levels and are becoming more complex resulting in professional costs of defence inevitably rising.
We offer an insurance policy to cover any professional costs incurred as a result of these investigations.
Enquires are at record levels and many selected completely at random. HMRC has the power to inspect business premises and has established a penalty structure based on subjective ‘reasonable care’ clauses. It also uses the more efficient aspect enquiry to enable inspectors to target a greater number of taxpayers than before in order to identify non-compliant tax returns. HMRC’s approach has the potential to result in lengthy investigations which can be complicated and require our involvement.
The consequences and penalties associated with HMRC enquiries can be hard-hitting so having the fee protection insurance in place in case of an HMRC investigation means we can focus our time and effort entirely on your investigation and you don’t have to worry about our fees.
The benefits of Fee Protection insurance are:
- all classes of tax covered under one policy, ie: PAYE, VAT, corporation tax
- all personal tax enquires are covered under business policies
- all pre inspection professional fees covered under the policy
- free access to Health & Safety and Employment Law and Business Law help lines
- up to £100,000 of professional costs per incident
- knowledge that you are dealing with your own accountants.
It is important to note that anyone who pays tax can come under investigation so to provide peace of mind, we would strongly recommend our tax enquiry Fee Protection Insurance which enables us to deal with any HMRC enquiry at no additional cost to you.
The Taxwise help lines are one of the most comprehensive telephone advice lines available in the UK. Fully staffed by Taxwise and PBS professional advisors and experts, the help lines provide access to clients of all types and sizes in the following areas of concern:
- Employment Law and Personnel HR issues such as employment regulations, contracts, disciplinary and dismissal procedures
- Health & Safety advice and assistance in ensuring a better quality working and living environment
- Commercial legal issues, including contract law, tort, civil litigation, criminal law and procedure, family law, intellectual property, consumer law, probate matters, commercial and company law, landlord and tenancy disputes, consumer protection and licensing, copyright and patents.
We are not authorised under the Financial Services and Markets Act 2000 but, in certain circumstances, we are able to offer a limited range of investment services because we are ICAEW members. We can provide these investment services if they are an incidental part of the professional services we have been engaged to provide.