Tax Enquiry Fee Protection Insurance
HM Revenue & Customs (HMRC) increased powers and new initiatives will result in them approaching taxpayers by a variety of means at any time of their choosing, so it is especially important that you are protected from the outset of any investigation into your affairs. HMRC is tasked to close a £48bn tax deficit having collected £440m from investigations into tax returns of self-assessment payers alone in the past year, an increase of 64% on the previous year. All backed by the chancellor’s autumn budget statement where it was confirmed there will be an additional 2,500 new tax inspectors to help achieve targets.
The combination of a new penalty structure, pre return checks, business record checks being re-introduced and cross-trained inspectors who are under considerable pressure to achieve results, HMRC’s new targeted approach means it is more important than ever that you have Tax Enquiry Fee Protection Service for complete peace of mind.
Due to the increased threat we have researched the market and are insured by Taxwise Services Ltd. The Service is backed by an insurance policy under which we can claim the costs of defending clients in tax enquiries.
As part of the cover clients are also able to obtain helpful advice about the complex areas of Health & Safety and Employment Law, and Business & Legal.