Fee Protection
Tax Investigations Fee Protection
Worried about the accountancy fees of a tax investigation?
HMRC has powers to investigate income tax and corporation tax payers at RANDOM.
With the ever increasing risks of full tax enquiries and investigations, it's worth considering protecting yourself from the accountancy costs of dealing with it as the amount of work involved is often substantial.
The Webb & Co Tax Investigations Insurance, in association with Abbey Tax Protection, is designed to reimburse the costs of our professional fees in the event clients are investigated by HM Revenue & Customs.
Tax Enquiries are harrowing experiences which can be costly and time consuming but the right defence helps to ensure that you can fight the Revenue on an equal footing. Too many taxpayers are forced to accept unreasonable demands from the Revenue as the costs of proper representation are too high. But Tax Investigations Insurance means you can benefit from the proper defence during this difficult time.
The Insurance reimburses our professional fees up to £75,000 if you suffer one of the following investigations:
- Income Tax Self Assessment Full and Aspect Enquiries*
- Corporation Tax Self Assessment Full and Aspect Enquiries*
- Employer Compliance Disputes (PAYE, NIC, P11D and IR35)
- HMRC VAT Disputes
* Aspect Enquiries carry a £150 excess and a fee limit of £1,500
If you are concerned about the costs of these investigations, Webb & Co strongly recommend that you benefit from the security of this insurance. If you have any questions about the Insurance, please contact us.
Tax Enquiries and Investigations
It is an unfortunate fact of business life that you may well come under enquiry by HMRC through no fault of your own or of your accountant. HMRC now investigates businesses at random as well as for specific reasons. A full investigation is not a pleasant experience for anyone. Without expert defence it is possible to get trampled all over.
If you are selected at random, you need an accountant who knows how HMRC works and thinks and is prepared to fight your case. We make sure that the Taxman keeps to its own internal guidelines and doesn't over step the mark. We will talk you through the enquiry process and what to expect and support you throughout.
The Penalties
There are various penalties HMRC can seek to impose following an enquiry for undeclared income. As well as having to pay the tax, you can find them seeking penalties up to an amount equal to the tax, so doubling your tax bill. Interest on the late payment of the tax is also part of the arrangement - not a pleasant experience. We can help you minimize these penalties.
Anti-investigation Scanning Checks
Whilst with random investigations anyone can come under enquiry, you can help to avoid the chance of an investigation into your affairs for other reasons. We know the triggers that often give rise to enquiries if not fully explained to HMRC when submitting Returns to them. Every Tax Return or set of accounts we submit to the Taxman goes through an anti-investigation scanning check to identify any areas that may lead to an enquiry before they are submitted without explanation. This really does help to minimise the chances of you being on the wrong end of an enquiry.
Call us now on 01749 676604
