Tax Investigation Fee Protection Service
What does our Tax Investigation Fee Protection Service cover?
In a nutshell our tax investigation service will cover you for any professional fees associated from representing you in the event of a HMRC enquiry. The service covers any compliance check, visit or investigation by HMRC relating to your tax affairs.
Our tax investigation service meets the demands and needs of any business or private tax client that wants to protect themselves against the unplanned cost of accountancy fees incurred when dealing with HMRC enquiries or disputes.
Knowing you have the service in place limits the stress and uncertainty if an investigation from HMRC is started. It's a one off payment that covers you for the whole year. If HMRC come knocking you are safe in the knowledge that our fees are covered to help you navigate through the tricky process of meetings and communication on your behalf.
In partnership with Croner-i Taxwise Protect, you can be safe in the knowledge that we will represent you in the event of an investigation and deal with HMRC on your behalf.
Also note that the Croner-i Taxwise My Business Hub is included within the cost of the fee protection service. My Business Hub is an online portal offering expert advice on all key areas of business. It includes employment law and HR such as contracts and handbooks, health and safety including policies and risk assessments, legal aspects including company and consumer law. Providing templates and training all in once place saves you time on your business admin and compliance.
Croner-i Taxwise have created an informative leaflet explaining all the benefits of taking out the protection service which you can download
But why would HMRC open an investigation into my tax affairs?
This can be triggered for many reasons; a tip off, paying the incorrect amount of tax, late returns or HMRC are simply working within a targeted sector but the list of reasons is endless; you can even be randomly selected. The assumption when you’re selected for a tax investigation is that you have done something wrong - whereas this is rarely the case. Random enquiries into tax affairs can and do happen hence why we offer the tax investigation service, not because we think you have been fraudulent.
Whether you’re an individual taxpayer or business owner, an investigation is possible and nobody is exempt. That brown envelope arriving on your doorstep is not to be ignored.
So what actually happens during an investigation?
If HMRC decide to investigate, you must comply with their requests. HMRC will check your accounts, request a mountain of documentation, ask lots of questions and may even want to visit you in person. No additional tax may owed, but you will still be left with enquiry fees which could cost thousands as there is no telling how much information HMRC will require.
In our experience, investigations are costly, stressful, and an unwelcome distraction from day-to-day life; whether HMRC initiate a full enquiry of your tax history or an Aspect Enquiry into a specific area of your return, you will be liable for the professional costs to bring about a prompt resolution.
What does it cost?
|Limited Company (t/o up to £25m)||£ 400.00|
|Sole Trader (or has rental over £50k)||£ 260.00|
|Personal Tax||£ 150.00|
*above fees are inclusive of VAT