Why is HMRC investigating?
£800 million has been allocated to target tax evasion, in a bid to fill the public finance black hole. Many tax investigations are random. Even if you have done nothing wrong, you are still at risk of an investigation which can take many months and cost thousands of pounds in professional fees.
HMRC are using a piece of highly efficient software which is accessing and trawling through your financial information right now.
The ‘Connect’ system is scouring vast databanks to unearth discrepancies between taxpayers and businesses, income, assets and transactions. However, sometimes they may not be correct and select the wrong targets.
Since 2008, billions of pounds worth of extra tax has been clawed back and the reach of ‘Connect’ is ever growing.
Why is it important to protect yourself from a HMRC investigation?
Tax investigations can be costly and our expert support during this process is not covered in your usual accountancy fee.
Investing a small amount into our expert protection service now means that you will receive complete support if HMRC targets your business.
We will manage your case from start to finish, reducing stress and providing peace of mind.
What does the tax investigation service include?
When you subscribe to our service we are able to make a claim against our insurance policy held with Professional Fee Protection, in respect of our fees incurred (up to £100,000 per claim unless otherwise indicated) when we defend you if you are subject to any of the following events:
- A Full Enquiry
- An Aspect Enquiry
- VAT/PAYE Compliance Visit Cover
- Pre-Dispute Cover
- VAT Disputes
- PAYE/NIC Disputes
- Employment Status Dispute
- Partners/Directors Cover
- A Business Inspection Notice
- Application for a Judicial Review
- Code of Practice 8 Investigations
- IR35 Status Check
- IR35 Disputes
- Interventions Cover (Informal Enquiries)
Further information on the level of support provided can be found on your Service Summary. Please contact us directly for further information or to request a Service Summary.
The main exclusions in our service are as follows:
The cost of making good any deficiencies in books, records, accounts or returns.
Claims that originate from any matter, which existed before the first period of insurance, except where full disclosure has been made and the increase in risk has been accepted in writing.
Minimum wage, student loan, CIS and tax credit enquiries.
Returns that have been submitted more than 90 days late.
Fraud Investigation Service or Specialist Investigations Enquiries other than where a Code of Practice 8 Booklet is issued.
Top 5 reasons for acting now:
- Investigations are often at random and come at any time.
- HMRC are clawing back billions of pounds by stepping up the number of tax investigations.
- Powerful new software can trace even the smallest discrepancy in spending or earnings, prompting an investigation. However, they may be incorrect and select the wrong targets.
- The stress and cost of an investigation can be considerable.
- Our expertise can save you time and money in the long run.
Here at Stead Robinson we are here to help our clients and keep them safe.
Investing a small amount into our expert protection service means you will receive complete support if HMRC targets your or your business.
For more information please contact us on 01484 665023 or email us at firstname.lastname@example.org