Tax investigations by HMRC into individuals and small businesses are on the rise. There are more than a quarter of a million investigations into small traders every year and even if you are entirely innocent, you might find yourself subject to a lengthy, complex enquiry from the taxman.
Our tax investigation fee protection service aims to reimburse the accountancy fees which might be incurred by defending you in the event of a tax enquiry.
While we take every measure to ensure tax returns are filed in a manner which limits the possibility of further review, as you are no doubt aware, HMRC randomly selects thousands of cases for investigation each year.
The protection policy can pay out up to £125,000 to cover the costs arising from a tax enquiry and will ensure we can respond on your behalf, negotiate directly with HMRC and attend meetings or tribunals for you. You will have the peace of mind that the fees for this comprehensive work will be covered by your policy.
As an additional bonus, the protection service also includes access to a 24/7 tax helpline and legal advice hub manned by a highly-experienced team of 70 barristers and solicitors. They can provide support on commercial matters, employment and contract law, and health and safety advice.
If you are enrolled in the service, you will shortly receive an invoice. The annual fees for the service start at £50 and increase depending on the size and nature of the account. The fee for sole traders with income of more than £15,000 is £100 and for partnerships or limited companies, £160 + VAT.
Please note that while the service covers all fair enquiries from HMRC, it cannot cover cases of suspected fraud. For full details of the policy, or if you receive an invoice and wish to opt out, please contact our office team.
