Protect your business from the cost of an HMRC Investigation
If and when the inevitable happens and HMRC come knocking at the door, it is good to have a plan to respond in a cost effective manner. An investigation will typically involve preparation of books and records prior to the inspector visiting your premises (usually handled by the accountant), an initial meeting with the HMRC inspector and then their investigation which can range from a few hours to days/weeks, during which most owners/directors will want their accountant present.
This is where “Fee Protection” can help and should be available from your accountant to help mitigate your costs with a lengthy investigation by HMRC.
Why you need protection from HMRC
- The much talked about tax gap means HMRC are more determined than ever to claw back money from taxpayers.
- HMRC’s increased powers has led to a recent explosion in new investigations.
- Disputes with HMRC can quickly spiral into time consuming and costly affairs so it’s more important than ever that you are protected from costly investigations.
- Even if you are found to owe no tax at all, you will still have to pay the professional fees incurred in handling the case.
What is typically covered by a “Fee Protection” service
- All taxes – VAT, income tax, NIC, Corporation tax, Capital Gains tax, Inheritance tax etc
- Full HMRC Enquiries
- Construction Industry Scheme reviews
- Business Record Checks
- Employer Compliance Checks
- IR35 Review
- VAT Compliance Checks
- Informal Enquiries
- Discovery Investigations; and more…
Along with the benefits of reducing the costs of an HMRC investigation you should also be able to access extra specialist help in defending any HMRC investigations. For the price of a couple of hours of your accountant’s time each year, this could save you thousands in the event of an investigation.
To find out more about exactly what protection we can offer you, please give me a call on 01455 247 078, or take a look here.
Our charges for the service are typically only £175 plus VAT to give you that peace of mind.