Rising HMRC Investigations – how you can protect yourself and your business?

Any taxpayer can be targeted by HMRC to check that they are paying the right amount of tax.  Dealing with HMRC can be a stressful experience for both personal and corporate clients and a tax enquiry can lead to unexpected questions, demands for detailed information and crucially, significant fees.

What is an HMRC tax enquiry?

An HMRC tax enquiry happens when HMRC decides to review your tax return more closely. This might be a routine check or triggered by specific issues they want clarified. While many enquiries are straightforward, some can become complex and prolonged, requiring expert advice and representation.

Why Could This Cost You?

Navigating an HMRC enquiry often requires professional accountancy support to help gather documentation, respond to HMRC queries, and potentially negotiate settlements or appeals. Such services can involve considerable time and expertise, which means unplanned fees can mount up.

What is Fee Protection Insurance?

Fee protection insurance is designed specifically to cover the cost of professional fees incurred in the event of an HMRC tax enquiry. It gives you peace of mind that, should you face an enquiry, your accountancy fees are covered, so you won’t be burdened with any unexpected costs.

Who Should Consider Fee Protection Insurance?

• Individuals: Especially those with complex tax affairs, rental income, investments, or self-employment income.
• Small Businesses and Corporates: Companies of all sizes can be subject to enquiries, particularly those with multiple transactions, VAT complexities, or employment taxes.
• Anyone Looking for Peace of Mind: No one expects a tax enquiry, but having fee protection means you’re financially prepared if one arises.

Why Choose Fee Protection Insurance through Your Accountant?

We strongly recommend taking out fee protection insurance through a trusted firm like Kirk Newsholme.  You benefit from a policy tailored to your specific needs and circumstances and we understand the nuances of your tax affairs to ensure you get appropriate cover without unnecessary extras.

Please click through to read the information leaflet about this service. This answers questions you may have about tax enquiries and sets out details of our service and other benefits.

If this is a service you are interested in taking out, please contact June Gleeson June.Gleeson@kirknewsholme.co.uk  DDI: 0113 204 4242 for further information and a quote.

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