Time-consuming and expensive HMRC tax investigations are on the increase. Make sure you are protected when HMRC strikes.
With an estimated tax gap of approximately £35.5 billion between what HMRC should collect and what it does collect, HMRC undertakes investigations into all types of taxes and believes that small businesses and individuals account for over half of the gap. Any individual or business can be selected at random for an investigation, even if they are fully compliant.
By using tax investigation insurance (also known as HMRC Investigation Cover or Fee Protection), you’ll be protected against professional costs arising from a range of investigations into different areas of your personal and business tax affairs.
If HMRC opens an investigation into your tax affairs, you are obliged to provide information and liaise with HMRC throughout until HMRC are satisfied that you have paid the correct amount of tax. This work is best dealt with by your accountant or tax adviser, and the fees associated with representing you in an enquiry are due from you or your business, and not met by HMRC. Tax investigations can be onerous and take months or years to bring to a close.
If HMRC opens an investigation into your tax affairs, you are obliged to provide information and liaise with HMRC throughout until HMRC are satisfied that you have paid the correct amount of tax. This work is best dealt with by your accountant or tax adviser, and the fees associated with representing you in an enquiry are due from you or your business, and not met by HMRC. Tax investigations can be onerous and take months or years to bring to a close.
Our tax investigation insurance will cover you and your business up to the sum of £100,000 in professional fees helping with peace of mind and ensuring that your business is compliant with tax laws.
Our team of chartered tax advisers and chartered accountants, experienced in dealing with HMRC enquiries will represent you throughout an enquiry. We’ll meet and correspond with HMRC on your behalf and ensure everything is completed in a timely manner.
Corporation tax self-assessment
Income tax self-assessment
PAYE P11D
National insurance
Construction industry scheme
VAT
National minimum wage
VAT visits
Capital gains tax
IR35
Corporation tax self-assessment
Income tax self-assessment
PAYE P11D
National insurance
Construction industry scheme
VAT
National minimum wage
VAT visits
Capital gains tax
IR35
From ensuring that you comply with your statutory requirements, to navigating the scaling-up of your business, through to effective profit extraction and dealing with your tax affairs, Page Kirk Nottingham accountants are here for you every step of the way
Page Kirk is a leading accountancy practice in Nottingham, but we service clients across the country, so wherever you are based, we can help. We will assign you an accountant to assist you in growing your business and improving its efficiency. Contact us to find out how we can help you today.
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