When you’re with Franks Accountants, we want to make sure you’re protected from unwanted and often random HMRC enquiries. That’s why we offer Tax Investigation Protection cover for free through Abbey Tax to all our clients. This will protect you from the professional fees associated with a compliance check, and ensure you get the best defence.
All the information that the taxman collects on business and people is stored on a computer system by HMRC. Specialist analytical experts then trawl through the data to identify potential risks. However, you could be chosen for a random check simply due to the nature of your business, where you live, the property you rent out or because HMRC has decided to target your profession.
Even if your return is 100% accurate and no adjustments need to be made, enquiries can last over a year and professional fees can add up to thousands of pounds.
Why is Tax Investigation Protection necessary?
As mentioned above, professional fess for an enquiry can mount up, and on top of that HMRC are determined to deliver more money from compliance activity due to the severe pressure from both the government and MPs to pursue tax which is due under law. Tax authorities around the world are also starting to share information under the Common Reporting Standard, this means the 22 billion lines of data that HMRC already hold are likely to increase. HMRC can also now access all credit and debit card transactions to find out the number of value of each payment made by a specific trader.
Last year alone over 80,000 reports were made to the tax evasion hotline, and over 10,000 referrals were made to HMRC from mortgage brokers. With our Tax Investigation Protection, you don’t have to battle HMRC alone.
How can we help?
From the moment an enquiry letter arrives, we can help with our Tax Investigation Protection through Abbey Tax.
It will protect you from the fees and allow Abbey Tax to:
- Check HMRC is entitled to investigate the tax return selected and challenge them if not,
- Ensure the tax inspector only asks for relevant information and documents,
- Respond to telephone calls, emails, letters, compliance fact sheets and notices issued by HMRC,
- Provide supporting information from our files relating to when your accounts were drawn up,
- Prepare for and attend face to face meetings with the tax inspector,
- Argue any complex or technical tax cases raised during the enquiry,
- Handle any settlement negotiations all the way through to a successful conclusion.
You’ll get access to a team of qualified solicitors and barristers for employment law, health and safety matters and commercial issues. The advice they provide is free with unlimited calls and open 24/7, 365 days a year.
Get in touch with us today for more information about the Tax Investigation Protection cover provided to our clients by Abbey Tax.