We recommend all our clients consider joining our Tax Investigation Service. Every year, HMRC carries out enquiries into the tax affairs of an increasing number of individuals and businesses in the UK. Many people find an HMRC enquiry disruptive, intrusive, stressful and ultimately expensive.
Joining our Tax Investigation Service, provides peace of mind knowing we are here to help you when HMRC come calling.
With a budget deficit of over £355 billion, we fully expect HMRC to raise more enquiries this year to increase tax revenue and plug the hole left in the Government’s finances by the economic damage caused by COVID-19.
Not only does our service pay our professional fees in the event of a check on your tax affairs, it enables us to provide expert advice and guidance to you every step of the way.
The professional fees associated with a tax enquiry can amount to thousands of pounds. These costs are additional to our normal annual fees.
HMRC opened 102,000 investigations into taxpayers in the first quarter of 2021 – up 36% from 75,000 in the previous quarter.
David Bennett – Tax Partner
David has over twenty-five years experience in providing specialist tax advice, covering business, personal and capital taxes. His main areas of expertise are tax planning and dealing with HMRC tax investigations. He also contributes articles about tax to external publications.
Rachel Marsdin – Tax Partner
Rachel is a specialist tax partner, providing advice on tax planning and tax mitigation. She has extensive knowledge of corporate, personal and capital taxes, which means that she is able to advise businesses on the whole range of taxes that impact the company and the owners personally.
For those who have relied on a COVID-19 support scheme such as the CJRS (furlough scheme), it is likely that HMRC will be looking a lot more closely at tax returns, payments and compliance histories. Tax and VAT repayments will also be checked more rigorously alongside the usual full tax investigations.
HMRC estimate as many as 10% of claims are fraudulent and even more will have made errors. Naturally, this will result in many furlough claims being investigated by HMRC. Most of these claimants will not have abused the scheme in any way, however some innocent errors will have been made.
As always, it will not only be the fraudulent cases that are selected for review. With an overall national debt of £2.21 trillion as of March 2021, there is also a concern that the number of general compliance checks being undertaken outside of the job retention scheme will also increase significantly. Again, this will inevitably result in innocent taxpayers facing potentially thousands of pounds in unexpected accountancy fees.
With this in mind, we strongly recommend that you subscribe, giving us the opportunity to support and protect you throughout the process of a tax investigation should you be a target of HMRC.
Starting from an annual payment of £102.35
Starting from an annual payment of £205.85
Starting from an annual payment of £258.74
Starting from an annual payment of £373.75
Starting from an annual payment of £730.25
Please note that each individual requires a separate subscription.
Please note that each business entity requires a separate subscription. The business subscription includes cover for the personal tax return of the partners, directors & their spouses and the company secretary of the business who have no other business income other than rental income up to £50,000 & provided the tax return is completed by us.
The maximum business turnover is £25m per annum (as stated in your last approved accounts) should you have turnover in excess of this please contact us on 0808 1683464 as a bespoke quotation may be required.
This service represents the fees for the Annual Tax Investigations Service.
In the event of an HMRC enquiry into your tax affairs, we can make a claim on our own practice insurance policy for the recovery of the professional expenses that we incur and these fees are credited to your account. To take out a subscription we must have a current engagement letter in place for the preparation of the tax returns.
Please ensure that the correct subscription fee is paid otherwise the investigation/enquiry may not be covered.