Keith Willis Associates Limited continues to offer clients our Tax Enquiry Fee Protection Service, helping to cover the professional costs involved should HMRC open an enquiry or investigation.
Why might HMRC investigate?
Many people assume that if their tax returns are correct, they have nothing to worry about. However, HMRC enquiries can arise for a wide range of reasons and in many cases are simply part of HMRC’s routine compliance activity.
Enquiries can relate to Income Tax, Corporation Tax, VAT, PAYE, CIS and other areas of taxation. They can also involve detailed correspondence, meetings and requests for information, often lasting many months.
The cost of an HMRC enquiry
Importantly, the professional fees involved in handling an HMRC enquiry are not included within standard annual accountancy fees. Even relatively straightforward cases can quickly become expensive.
Some recent examples highlighted by the provider include:
• A tax enquiry lasting two years where defence costs exceeded £19,000
• A VAT inspection resulting in £3,400 of professional fees
• A CIS enquiry which generated £2,400 of defence costs
In each case, the fees were covered in full under the protection service.
What does the service cover?
The service provides insurance-backed cover for professional representation in the event of an HMRC enquiry or compliance check and includes cover of up to £100,000 with no excess payable.
Cover can apply to enquiries relating to:
• Income Tax Self Assessment
• Corporation Tax
• VAT
• PAYE and National Insurance
• Construction Industry Scheme (CIS)
• IR35
• Capital Gains Tax
• Employer Compliance Checks
Supporting our clients
At Keith Willis Associates Limited, we believe professional support is invaluable when dealing with HMRC enquiries and this service helps provide additional peace of mind for clients.
If you would like any further information about the Tax Enquiry Fee Protection Service, or would like to discuss adding cover to your account, please get in touch with our team.
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