The pressure on the government to generate increased tax revenues has been well publicised in recent years. HM Revenue & Customs (HMRC) have been targeted with delivering an extra £7 billion in taxes each year by 2014/15. As a consequence, the number of tax enquiries undertaken by HMRC has increased significantly and this upward trend is expected to continue. HMRC is allowed to:
Make unannounced inspections
Check business records before a tax return is filed
Demand records without issuing a formal notice
Ask third parties to check the accuracy of information
Investigate direct taxes, VAT and employer compliance including CIS
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 the enquiries often drag on for months and sometimes take years to conclude. If targeted, the investigation costs can be high and charges will arise, even when the conclusion is that no tax is due.
It is as important as it has ever been for you to protect yourself and your business against these costs.
To provide peace of mind, our practice is covered by a Tax Enquiry Fee Protection Service from Taxwise. The Service is backed by an insurance policy under which we can claim the costs of defending clients who become subject to tax enquiries. Clients who subscribe to the Service will also be able to obtain helpful advice about the complex areas of Health & Safety and Employment Law. Such advice is offered in collaboration with Peninsula Business Services.
We ensure that all our clients have tax enquiry protection insurance. For this, our provider is Taxwise.
Fee Protection covers all costs in the event of:
HMRC Full and Aspect Enquiries
HMRC VAT Reviews and Inspections
HMRC Employer Compliance Reviews
Cross Tax Enquiries
HMRC Intervention relating to Self Assessment, Employer Compliance and VAT
VAT & Employer Compliance Disputes
Construction Industry Scheme Reviews
Light Touch Interventions
HMRC Non Written Approaches
Includes the personal returns of directors and partners of a business
Reasonable costs for us to review potential risks identified by HMRC from the start of an HMRC enquiry
Involving EBS Voisey & Partners from the outset of any investigation will ensure that you receive proper support and defence right from the start. Whilst EBS Voisey & Partners provides accountancy services minimizing your exposure to paying extra tax or penalties, having a Tax Enquiry Fee Protection cover will give you peace of mind. Our Fee Protection service protects you to a maximum fee level of £75,000.
For terms and conditions – please contact us for a copy of the Fee Protection agreementAvailable on request.
Free Business Support helpline – Our Fee Protection service offers you a free access to a Business Support Helpline run by advice line consultants from Peninsula, one of the country’s leading providers of business advice. This will enable you to you have access to support for:
Employment and personnel:
Contract of Employment
Disciplining an employee
Health & Safety:
Reporting an accident
Another good news: Unlike other accountants, we only charge Taxwise Fee Protection Cover at cost.
To find out more about our Fee Protection Service or to take advantage of our low cost cover, please contact Keith by telephone on 02920712729 or email at firstname.lastname@example.org.
Personal Protection Cover
Sole Trader/ Self-Employed Protection Cover
Partnership or LLP
Clients with 5 Years
Clients with 8 Years