Worried about an HMRC enquiry?
Relax, we’ve got you covered
Taxwise Fee Protection Service
What is the Tax Fee Protection Service?
HMRC tax and VAT investigations can be daunting, disruptive and expensive. Your accountant will assist you every step of the way to answer HMRC’s questions and to demonstrate you are paying the correct amount of tax. This requires the expertise, time, flexibility and expense of your accountant on your behalf and such costs are not included in your regular annual fees.
Just as you take out contents insurance to protect your home or business, our Tax Fee Protection Service protects you against the unforeseen costs incurred by your accountant when dealing with an HMRC enquiry.
HMRC tax facts
• All tax returns are profiled via the £50m HMRC Connect database.
• The ‘tax ‘gap’ between what should be collected in theory and what has been collected has increased to £34bn.
• HMRC are tasked with reducing this ‘tax gap’ – HMRC enquiries are a key tool in this task.
• Tax enquiries are at record levels.
• 80 specialist HMRC taskforces have been established between 2011/12 and 2013/14.
Why do I need the Tax Fee Protection Service?
All business and personal taxpayers are at risk of enquiry. HMRC activity has been at unprecedented levels for a number of years to the point where enquiries are commonplace.
Even if the tax man finds no errors, the accountancy costs in dealing with HMRC can still be substantial.
For a modest amount you can enjoy peace of mind that your accountant can deal with the tax authorities on your behalf and you will not be subject to any additional expense. These costs will be covered by your accountant’s policy.
Commercial Employment Law Advice
Business clients are entitled to complimentary access to the country’s leading employment law advisors to obtain practical considered advice in the complex areas of employment law and business safety.
What’s excluded?
• Criminal prosecutions and fraud.
• Enquiries that have commenced prior to subscribing to the service.
• Routine compliance work, eg. preparing tax returns.
In the event of a Tax or VAT enquiry
Please speak to your accountant straight away, immediate professional advice can make all the difference. Your accountant will deal with the claim on your behalf.
The next step
To ensure you are protected in the event of an HMRC Enquiry and to receive the necessary representation from your accountant without any concern over the amount of additional fees that will be incurred please return the enclosed reply slip or contact your accountant without delay.
Insurance cover is provided by Taxwise Services Ltd.
The Policy is underwritten by Irwell Insurance Co Ltd. (Financial Services Register number 202897).
Taxwise Fee Protection Service
At Direct Net Accountng we understand that tax is a little word with big implications. That is why we work hard to give you the best possible advice and strategies to make tax altogether less taxing.
The very thought of an HM Revenue & Customs (HMRC) enquiry can be daunting but, in the event that you are chosen for investigation, we can help you at every step of the process.
We will demonstrate to HMRC that you are paying the correct amount of tax and assist with the investigative procedures. As you will appreciate this all takes time, expense, and flexibility on our behalf. All of which means that HMRC enquiry charges are an unavoidable addition to our regular service fees.
For extra peace of mind, to avoid potential unexpected expenses arising from a possible tax or VAT enquiry, we are very pleased to offer you a solution, our Tax & VAT Enquiry Fee Protection Service.
Just as you take out cover to protect against the eventuality of a possible motoring accident or potential damage to the contents of your home or business, this service protects you from the costs that arise in dealing with your HMRC enquiry.
In partnership with Taxwise, who are market leaders in this specialist field, our comprehensive service includes access to advice lines in the complex areas of Employment Law and Business Safety.
Taxwise Fee Protection Service
With the public finances so tightly stretched, HM Revenue & Customs (HMRC) has been set the ambitious target of increasing tax revenues. HMRC have responded strongly by:
• Initiating a number of campaigns targeting taxpayers, whom HMRC believe have declared incorrect tax.
• Launching a number of task forces, which target certain trades in specific areas.
• Recruiting 2,500 new Compliance Officers.
• Targeting 20,000 Business Record Checks each year.
• Undertaking more enquiries and Compliance Visits than ever before.
Any taxpayer can be targeted by HMRC to check that they are paying the right amount of tax, answering all of HMRC’s questions takes time and professional expertise. Enquiries often drag on for months and sometimes take years to conclude. It can cost thousands of pounds to defend you, whatever the end result.
So what can be done?
It is more important now than it has ever been for you to consider protecting against the unplanned costs that you will incur in the event of an HMRC enquiry or compliance visit. This can be achieved at a relatively low cost.
An insurance backed solution
To provide peace of mind, we are introducing a Tax Enquiry Fee Protection Service. The Service is backed by an insurance policy under which we can claim costs incurred defending you in the event of an HMRC enquiry. For added value clients who subscribe to the Service will also be able to access a telephone advice line covering those complex areas of Employment Law and Business Safety, at no additional cost.
Should you require further information, please contact :
Tel: 0165 6658 807
Email: enquiries@directnetaccounting.co.uk.