While you may think an enquiry is unlikely to happen to you, HMRC may review your Tax returns, VAT returns or Accounts at any time. Even if you have done nothing wrong, many tax enquiries are now being conducted just at random, so you are still at risk of an enquiry or an investigation at any time. This can be a lengthy and expensive ordeal, even if the conclusive result of the enquiry is that you do not need to pay any additional tax.
HMRC has now been set ambitious targets and is therefore continually investing in new technology and strategies to maximise its tax revenue due to the government increased levels of deficit, therefore recently there has been a significant increase in tax enquiries.
We offer the opportunity to cover your business with a Tax Fee Protection Insurance. If you need our help, advice and support should you have any Tax/VAT/PAYE enquiry (or more seriously a full tax investigation) we will be able to deal with this on your behalf with correspondence, telephone conversations, meetings (if required) with yourself and HMRC without you having the added burden of our fees, which can be covered by this policy for a sum of up to £100,000. This provides you with peace of mind that should an enquiry or investigation happen, you won’t need to suffer a huge expenditure for accountancy services.
This would therefore give you full support, and as we know and understand your business, we would be providing the best possible defence to save you time and money. The more information we can help you provide HMRC with, the less likely you are to incur any form of penalties or charges.
Communication with HMRC needs to be carefully considered, as lying or destroying evidence can result in much more serious penalties. We can assist and advise you on this.