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.
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. The number of claims notified has grown considerably in recent years, with average yearly increases of 30% for the past three years. The increase has mainly come from an Income Tax Aspect and Full enquiry claims, which have grown in number by almost 2.5 times over the same period.
HMRC taskforces have recovered more than £500 million since they were launched five years ago. The targeted bursts of enforcement activity have brought in progressively higher amounts every year, and the total now stands at more than £540 million. This includes nearly £250 million raised in 2015-16 alone, which is almost double the previous year’s yield.
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. We therefore strongly recommend that all of our clients join the scheme.
Also included is an Employment Services, Health & Safety and Commercial Legal Advice Line which provides unlimited telephonic advisory services on Employment Law and Health & Safety legislation for business clients.
We would love to meet you, which is why we offer all new clients a free, no obligation initial consultation. Click the contact button below to see all the methods to get in touch with us and if you like you can leave an email enquiry with the form provided and we will contact you to arrange a time and date.Contact Us