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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:

Self Assessment Full Enquiries
The trigger point is the issue of the S9A, S12AC TMA 70 or Paragraph 24 (1) Schedule 18 Finance Act 1998 Notice by the Inspector of Taxes together with a request to examine all the business books and records or, in the case of a personal taxpayer, all the underlying documents used in the preparation of the Self Assessment Return.
ENHANCED PROTECTION
Income Tax Self Assessment Aspect Enquiries
The trigger point is the issue of the S9A or S12AC TMA 70 Notice by the Inspector of Taxes where there is a request to examine just certain boxes on the Return, subject to a limit of indemnity of £1,500.
ENHANCED PROTECTION
Corporation Tax Self Assessment Aspect Enquiries
The trigger point is the issue of the Paragraph 24 (1) Schedule 18 Finance Act 1998 Notice by the Inspector of Taxes where there is a request to examine just certain boxes on the Return, subject to a limit of indemnity of £1,500.
HMRC IR35 Enquiries
Cover is also provided for HMRC IR35 Status disputes. However, there must be a written Contract for Services in respect of the liabilities which are being disputed.  The Contract must have been strictly adhered to and there must be a reasonable prospect of successfully contesting the Revenue’s allegations.
Employer Compliance Disputes
The cover is in respect of PAYE, P11D and NIC disputes and the trigger point is the issue of a letter, assessment or notice by HMRC, following an Audit visit, where there is a prospect of reducing the alleged liabilities.
HMRC VAT Disputes
The trigger point is the issue of a written decision or assessment by HMRC, following a control visit, where there is a prospect of reducing the alleged VAT liabilities.
ENHANCED PROTECTION
Schedule 36 Enquiries
The trigger point is a written request from HMRC to inspect assets, documents, records or business premises in accordance with Schedule 36 Finance Act 2008 in respect of Income Tax, Corporation Tax, PAYE, NIC, VAT & CGT. These enquiries have a maximum limit of indemnity 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.

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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.

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