At Thompson Jenner, we operate a Fee Protection Scheme for clients supported by Croner Taxwise Limited whereby we have insured our practice to provide insurance to participating clients at an affordable fixed annual fee. Croner Taxwise is one of the largest providers of Fee Protection Insurance in the marketplace.
To find out why we recommend that our clients join the scheme and what is included with your subscription please read on.
Anyone that pays tax can come under scrutiny from HM Revenue & Custom (HMRC). Every year HMRC starts enquiries into many thousands of personal and business tax returns and accounts. VAT and PAYE payments are also thoroughly checked. The aim in every case is to collect more tax.
HMRC continue to use various methods to increase the volume of enquiries and investigations launched into clients’ tax affairs. Their use of task forces has been well publicised with the number of claims growing considerably. There has been a 17% increase in the amount of extra revenue generated by HMRC’s specialist task forces in just a year to £541m in 2018/19, up from £464m in 2017/18.
Task forces are used to target certain industries or professionals where there is a strong suspicion that tax evasion is endemic. There have been 360 task forces created since 2011. They are drawn from HMRC’s most experienced staff who are specialists within their particular industry.
We have also noticed a more targeted attitude from HMRC in respect of VAT investigations with a typical VAT enquiry alone costing up to several thousand pounds. With Making Tax Digital regulations now in force, it is anticipated that HMRC will increase the number of reviews.
The cost of defending these investigations can run into thousands of pounds, even if little or no extra tax is paid at the end of the enquiry.
That is why we strongly recommend that our clients join the scheme so that they have peace of mind in the event of an investigation.
Our Fee Protection Service, in partnership with Croner Taxwise, includes:
As a member of the scheme you will also have FREE unlimited telephone access to:
We believe that the FREE telephone support service alone is extremely good value compared to trying to arrange separately.
For more details, or if you would like to renew your subscription or join our fee protection scheme, please contact our Exeter office on 01392 258553 or email Andrea Sear at: email@example.com Protect yourself and your business from an investigation now.
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