You probably don’t expect a tax investigation......however that doesn’t mean you shouldn’t protect yourself against the potential cost.
Over the past 2 years there has been a significant increase in the number of enquiries being conducted by HMRC. Although many businesses and individuals believe they are not at risk unfortunately this is not the case.
- As a business or individual who submits a tax return you are at risk of being selected for an enquiry. Many enquiries are completely random.
- Tax enquiries are continuing to increase. The government have invested £900m in HMRC and expect to raise an additional £7.2billion in additional tax by 2014-2015.
- HMRC have more powers to investigate businesses and individuals than ever before.
- The cost to defend you during an enquiry can easily exceed your annual accountancy fees.
Without fee protection you will be liable for all of our costs to defend you.
To provide peace of mind, we offer all of our clients a Tax Investigation Service. The Service is backed by an insurance policy we have taken out under which we can claim the costs of defending clients in tax enquiries.
Please read the information page about the Service. This answers questions you may have about tax enquiries, sets out details of our insurance cover and other benefits and gives information about our insurance provider.
|
You can pay for the service now by using GoCardlessa quick and easy way to make a one-off paymentusing Direct Debit giving you instant cover!
|
If you prefer to pay by credit/debitcard or send us a cheque please call us on 01604 769119
|
The service also includes access to a business legal helpline, open all year around, providing you with advice on aspects of the law as it affects your business.
It is important to note that the service relates only to the professional fees incurred. It does not extend to any additional tax liability or penalties that may arise on the conclusion of an investigation.
All Directors and Partners personal returns are automatically included when their business subscribes to the service as long as we prepare their tax returns. However, where a director or partner also operates another business, that trade would be subject to a separate annual fee in line with the charges above.
Where rental income in excess of £50,000 per annum is received by an individual, a separate subscription would be required for this activity at the rate applicable to a sole trader.
The charges apply to non-trading individuals with annual income below £100,000 pa (excluding employment income & bank interest) and trading entities with annual turnover below £5 million. If you exceed these limits then we will be pleased to calculate a charge tailored to your circumstances.
The service runs annually from 1st April 2015 to 31st March 2016
Please note if you decide not to take advantage of our Tax Investigation service and have an enquiry or dispute with the tax authorities you will be responsible for our full fees for representation.
