We recommend tax fee protection insurance to our clients to guard against the cost of an investigation or dispute.
Many of our offices offer their clients insurance cover for our professional costs incurred in the following investigations and disputes:
- Self-assessment full enquiries
- Corporation tax accounts investigations and full enquiries
- Customs and Excise VAT disputes
- Employer compliance investigations (PAYE, P11D, NIC)
We have experienced a number of investigations under the self-assessment regime and enquiries can be undertaken on a random basis. Our experience is that fees incurred in dealing with investigations can be as high as £5,000. Now, more than ever, we feel that advice on the tax fee protection insurance scheme is necessary.
Therefore, we strongly recommend that our clients take advantage of insurance protection.
The next step
If you would like to discuss tax fee protection insurance, please contact one of our tax advisers at your nearest location, or complete the contact form.
A quarter of all taxpayers may be paying the wrong amount of tax due to incorrect PAYE codes according to our analysis.
From 6 April 2012 HMRC will be able to ask employers to pay a financial security where it thinks there is serious risk that the business won’t pay over their PAYE tax deductions or National Insurance contributions (NICs) on time.
Taxpayers who do not owe tax, or are even due a tax rebate from HM Revenue & Customs (HMRC), will be fined for the first time this year if they do not complete tax returns by January 31 2012.
Have you received – or are you about to receive – a letter from HM Revenue and Customs’ Risk and Intelligence Service, Criminal Intelligence Group?
