Is a visit from the taxman a growing risk you can afford, or are prepared to take? HM Revenue Customs (HMRC) are more determined than ever to ‘claw back’ unpaid tax and to ensure all tax due is paid. The number of people being investigated by the taxman has doubled in one year.
HM Revenue Customs (HMRC) are more determined than ever to ‘claw back’ unpaid tax and to ensure all tax due is paid. The number of people being investigated by the taxman has doubled in one year. HMRC made enquiries about the tax affairs of 237,215 people last year, compared with about 119,000 in the previous year, and collected £20.7 billion - almost £2 billion more than their target. On top of this, the number of self employed people investigated has quadrupled while the annual prosecutions have risen sevenfold in three years.
The Revenue’s increasingly aggressive stance means more and more innocent businesses and individuals are likely to be investigated. HMRC do not need a reason to investigate you and they can investigate anyone at random.
For most, if your affairs are in good order there should be little to worry about. It is however, the norm that when the Revenue make enquiries they will expect your professional adviser to explain how the computations have been prepared and how the amount of tax payable has been derived. As your trusted adviser we will also be best placed to support and advise you through the enquiry process and to deal with any specific issues that arise. Few individuals or businesses though have budgeted for such expense and for some the cost could be more than they can afford.
You could be at greater risk of an investigation than you might think.
We have found that the most common reaction from clients is one of ‘we won’t be investigated’ but sadly this is not always the case.
Tax Enquiry Fee Protection offers peace of mind
To ensure our clients are able to protect themselves from the unexpected professional fees associated with an investigation or enquiry we strongly recommend they subscribe to our specialist tax investigation fee protection service. Our service is backed by an insurance policy we have taken out in our own name with Professional Fee Protection.
We will be on hand to represent and support you
Through the take up of our Tax Enquiry Fee Protection services you will be protected against the professional fees involved in defending you should HMRC seek to investigate you or your business. Dealing with a tax enquiry or tax investigation is not included in our normal client fees so we do recommend that our clients take advantage of our Tax Enquiry Fee Protection service.
The service operates whereby on payment of an annual subscription you will be protected against most professional fees involved in an HMRC Tax Investigation or Enquiry.
Our Tax Enquiry Fee Protection Service certainly represents value for money and offers peace of mind.
For further information or to obtain a quotation please use the contact form below or call Tracy Sackree on 01522 551200. Alternatively you can contact the Streets partner that looks after your affairs.
Complimentary Employment Law Helpline
Our clients who have Tax Enquiry Fee Protection cover can also benefit from complimentary access to a Business Support Helpline which is able to assist clients with legal issues around employment and personnel, health and safety and general commercial legal advice.