Tax Investigation – Don’t Get Caught in the Wave

23 May 2022

Tax Investigations are time-consuming, stressful and costly. As accountants, we want to protect our clients. That is why we offer a Tax Investigation Service. Our service protects you against the cost of professional fees associated with a tax investigation, as well as keeping time and stress factors to a minimum, so you don’t get caught in the wave.

The number of tax and VAT investigations is increasing every single year and we expect this to only increase further. Any one of us could be selected for an investigation by HMRC: whether you are a director, a business, or an individual taxpayer. If you ever find yourself under investigation from HMRC, our Tax Investigation Service can help protect you and your business.

Our Tax Investigation Service is a scheme that covers you for any professional fees that result from an investigation by HMRC. You benefit from comprehensive support from a team of experienced professional tax and VAT consultants.

Closing the Gap

£35 billion is the estimated tax gap between what HMRC should collect and what it does collect.
Small businesses and individuals account for over half of this tax gap, at around £17.9 billion.
To help ensure tax compliance and close this gap, HMRC undertake Tax and VAT Investigations.

Why do they do this?

  • to reduce the deficit,
  • to make sense of the gap, and
  • to penalise those who have contributed.

Tax and VAT investigations

HMRC have started issuing ‘compliance checks’ to businesses. And these are only likely to increase as they try to recover any incorrectly claimed furlough, for instance. So, now is an ideal time to look into having the support of our Tax Investigation Service.

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To target potential anomalies, HMRC undertakes Tax and VAT investigations. These investigations are triggered for several reasons. This includes irregularities spotted by their sophisticated software, such as a larger than usual VAT reclaim, or a decline in Tax liabilities, or because they suspect there may be potentially fraudulent activities due to poor record-keeping, late filings, or even due to a report made by the public. They are also often triggered totally randomly. Ultimately, any HMRC return can be selected for investigation without cause at any point.

These enquiries can be unfair on the taxpayer, and often do not result in any additional tax to pay. But still, they must be contended and dealt with which often causes stress and uncertainty. If this was not enough, the taxpayer is strongly advised to engage expert professional representation to ensure a robust response. This of course comes at a cost.

However, if you have the support of our Tax Investigation Service, you get access to professional representation with no added costs.

Case study

“A small retail business received a VAT visit followed by some written questions from HMRC. They had the support of their accountant throughout, right from the notice of the VAT visit. This resulted in a timely conclusion of HMRC’s enquiry and virtually no additional tax to pay. The professional fees amounted to £3,200. Fortunately, the business subscribed to the Tax Investigation Service and these fees were met in full by the service.”

Our Tax Investigation Service Can Help…

In the instance that you are one of the unlucky ones chosen by HMRC, our Tax Investigation Service gives you professional representation and is backed by an insurance policy that provides up to £100,000 of professional fees.

We have partnered with Croner Taxwise to provide this service, as they have a proven record of assisting with these enquiries for our clients. As well as this, they also provide access to a dedicated team of HR consultants who can assist you in growing your business by providing proactive commercial advice regarding the management and wellbeing of your staff.

This service starts at £90 for personal tax clients, £210 for sole traders and £330 for limited companies.

This service will cover you for all manner of compliance checks or investigations started by HMRC including:

  • Corporation Tax Self-Assessment
  • Income Tax Self-Assessment
  • PAYE
  • P11D
  • National Insurance
  • Construction Industry Scheme
  • IR35
  • VAT
  • National Minimum Wage
  • Gift Aid legislation and regulations

 

It also includes:

  • VAT visits
  • Employer compliance visits
  • Check of employer records
  • Interventions
  • Capital Gains Tax
  • Any HMRC use of pre-dispute information and
    inspection powers under schedule 36

 

Please see our Tax Investigation Service brochure for further details.

If you want the peace of mind offered by protection through our Tax Investigation Service, please contact us today at success@maple.uk.com or call us on 01332 207336 to ask for further details, or to start your cover.

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01332 207336

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Contact

Maple Accountancy Ltd.

83 Friar Gate
Derby,
DE1 1FL

01332 207336
success@maple.uk.com

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