Tax enquiry service

Should you be concerned about the cost of accountancy fees in the event of an HM Revenue & Customs  investigation?              
                
Yes, an investigations into your tax affairs can be time consuming and lengthy. As result the professional fees involved with such investigations can be significant.            

Usher Spiby have taken out an insurance policy which will reimburse the cost of our professional fees in the event of a HMRC enquiry or dispute

Fee Protection of up to £75,000 is provided in the event of:
 
Full and aspect Enquiries into:
   Corporation Tax Returns
   Partnership Tax Returns
   Sole Trader Tax Returns
   Personal Tax Returns

Disputes into:
   VAT
   Employer Compliance (PAYE, P11D and NIC)
   IR35

Code of Practice 8 enquiries (£5,000 limit of indemnity) and Inheritance Tax enquiries (£5,000 limit of indemnity)

See service summary for full details of the cover and exclusions

In addition, within the service is access to  a legal telephone advice facility. This helpline provides support to businesses that encounter problems with legislation particularly in areas of employment, contract disputes, and health & safety. This will be available at no extra charge to those clients who subscribe to the Fee Protection Cover.            

The service runs from 1st November to 31st October each year but you can join at any time, the cost of the annual cover (including VAT)  is as follows:-

Personal Tax £90.00
Sole Trader £120.00
Partnership* £144.00
Limited Company* £150.00

* Includes cover for directors or partners for whom we act, apart from those who  have personal rental income in excess of £50,000 per year

Sole Trader/Director/Partner with a rental income in excess of £50,000 p.a.

An extra fee of £120.00 fee is payable in addition to the above as rental income is treated as a separate business

Personal tax client only with rental income in excess of £50,000 p.a.

The fee is £120.00 p.a. as it is now treated as a business

 

Maximum cover for the full enquiry is £75k with no excess.

The main exclusions are as follows: -            

  • Existing investigations and disputes at the time the insurance is taken out.
  • Fees incurred prior to the written acceptance of a claim.           
  • Claims arising where the Annual Returns/accounts are submitted “late”, i.e. outside the time parameters set out in Taxes Act.            
  • Special Compliance Office, Special Investigations Section and HM Customs & Excise Investigation Division cases.            

Only available to clients of Usher Spiby & Co.  

   HMRC has never been more focused or organised in its pursuit of additional income from tax investigations. Please click here to download our tax investigations update, which highlights the increased risk posed by the latest HMRC activity and tactics. 
                
For more information on our  tax enquiry service or to take out cover please click here or phone us on 0161 336 2222

 

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