Fee protection – tax investigations
Clayton & Brewill's fee protection service gives you, for a low annual fee, the confidence that your accountancy fees and defence costs will be covered should you or your business be selected for an investigation by HMRC's tax officers.
Anyone who has faced an HMRC investigation will be only too aware of the time and cost required to defend any allegations of impropriety involving your tax returns.
Tax investigations can look into every aspect of your business and personal tax situation and can be disruptive, complex and invasive.
HMRC is using every avenue available to them to identify tax discrepancies – even social media sites. And, since the 2013 Finance Act came into force in July 2013, HMRC has been able to access a business’s credit card and debit card sales records going back four years – and use specialist software to compare them to the company’s VAT returns and income tax returns to spot any irregularities.
Year on year HMRC is targeted to increase revenue from tax compliance and is investing an extra £800m on compliance activity, with £300m specifically set aside to target SMEs and high net worth individuals.
Clayton & Brewill do my tax returns – surely that means I am safe?
At Clayton & Brewill we of course take great care over preparing your tax return but HMRC investigations can be selected at random and, in the Revenue’s eyes, you are ‘guilty until proven innocent’.
The nature of these inspections means that they can be on going for many months or even years, and can require a lot of preparatory work in order to satisfy the Inspector’s questions. The average HMRC enquiry lasts 19 months and the costs can regularly exceed £5,000.
The fees for this work are then your responsibility to pay, whatever the outcome of the enquiry.
Peace of mind in the event of an HMRC investigation
We have an excellent record when it comes to dealing with HMRC and are dedicated to fighting your corner if you are involved in a dispute. Unfortunately, we can’t stop you from being selected for an enquiry, but our fee protection service can ensure you are protected from the associated fees.