Enquiry fee protection

PROTECT YOURSELF AND YOUR BUSINESS AGAINST THE COST OF A TAX ENQUIRY

Under self-assessment, HMRC has the power to open an enquiry into any tax return or set of business accounts. No reasons have to be given for opening enquiries and many thousands are started every year at random.
 
On top of those risks, are the risks from VAT disputes and PAYE disputes including employment status and IR35.

More recently, the latest risks are from

  • Small Business record checks – HMRCs new powers to inspect records and businesses outside of traditional enquiries
  • Cross tax enquiries – where HMRC looks at VAT as well as other taxes as a whole
  • Surprise visits – HMRC can now visit business premises to review records, with no prior arrangement

Even if you are completely exonerated, the fees to defend such enquiries and reviews can be substantial. The importance of covering yourself against the costs related to such an eventuality has never been as high as it is today.

For more details call Tracy Kirby on 0161 761 5231 or email tracyk@horsfield-smith.co.uk.