Tax Investigation Cover
An HMRC tax enquiry can be daunting, not to mention incredibly time-consuming, diverting your attention away from where it is needed most. HMRC can open an enquiry for any reason, sometimes at random, so even if you do everything right, you may still be selected.
Whether an enquiry relates to self-assessment tax returns, Corporation Tax, VAT or PAYE, Brays can remove much of the burden from you. If we deal with your tax affairs on a routine basis, we will already have a detailed record of all information lodged with HMRC and understand how best to present any additional information as swiftly and smoothly as possible. We will be able to correspond directly with HMRC on your behalf and answer any questions or concerns you may have about the process.
Asking us to assist will provide you with the reassurance that a firm of Chartered Tax Advisers is liaising with HMRC on your behalf. However, the additional work involved in these cases leads to an unavoidable increase in our regular fee. For this reason, we recommend that all clients sign up to our Tax Investigation Cover.
What types of HMRC enquiry are covered?
If you are named on our policy, our fees will be covered for work on the following:
- An HMRC compliance check in respect of Income Tax; Corporation Tax; PAYE; National Insurance; CIS; IR35; VAT; National Minimum Wage or Gift Aid
- Disputes with HMRC following an assessment
- Code of Practice 8 enquiries into Inheritance Tax or Child Tax Credits
- Representation at an appeal to First-tier Tribunal, Upper Tribunal or Employment Tribunal
The cover is comprehensive and only excludes cases involving fraud, criminal prosecution, tax avoidance, or deliberate omissions. If the outcome of the enquiry is that insufficient tax has been paid, this will remain your responsibility, along with any fines, penalties or interest also accruing.
If you would like to review the policy in more detail, it is available here.
Our Tax Investigation Cover is provided in partnership with Croner Taxwise and attracts zero excess, meaning no enquiry is too small. We are insured to cover fees of up to £100,000 incurred whilst representing named clients in the event of an HMRC enquiry or dispute. For a small annual fee we can add you or your business to our policy, taking away the concern of our additional costs should you receive notice of an enquiry.
If you would like to find out more about what is covered, or for a quote, please contact us.
