Tax Investigations Service
Peace of Mind for Phil Bessant Clients
Every individual taxpayer and business is at risk of being chosen at any time for a tax investigation purely on a random basis. This applies to private individuals and to businesses.
No one is immune.
Why you could be chosen?
An investigation may be triggered when HM Revenue & Customs (HMRC) pick up something they see as unusual on a tax return. In fact you don't need to have done anything wrong to be selected for an investigation, if any of the following areas are higher than average for you or your business, you may well be at risk:
- motor expenses.
- building repairs.
- legal costs.
- levels of stock or work in-progress.
Local newspapers, the internet, adverts, bank returns, national statistics and enquiries into other businesses, even an overheard conversation in the pub, can all be the starting point for an investigation. Or they may act in response to a tip off. But they don’t need to have a reason at all, you could simply be chosen at random and as well as past returns, they may even look at your current year's affairs.
Why do you need fee protection?
Being investigated by HMRC can be a distressing and expensive experience that can be very disruptive and intrusive, not to mention prolonged. Investigations frequently go on for a year or more.
If you need us to represent you and to argue your case, you will be liable for our costs. Our Tax Investigation service will cover the costs we incur in representing you in an investigation.
- The tax authorities don’t need a reason for opening an investigation.
- You could easily be selected at random.
- Any person or company who should complete a tax return could be investigated.
- HMRC are devoting almost one quarter of their entire budget of £4 billion to enforcement and compliance.
What is our Tax Investigations Service?
An Insurance available for Phil Bessant clients that pays the professional fees required to provide you with the right level of representation should you be subject to an investigation or dispute with the tax authorities. Without this cover, you would need to pay for any of Phil Bessant’s costs incurred.
Why choose Phil Bessant Tax Investigations Service?
- By taking out a policy, you’ll be dealing with a trusted and familiar face who knows your affairs – not an unknown accountant which may be appointed if you subscribe to an alternative scheme.
- All our professional fees resulting from any HMRC investigation or PAYE, NIC and VAT disputes will be covered by our service.
- It will give you peace of mind, minimising the stress an investigation can cause.
- At a surprisingly low cost, all this adds up to excellent value for money.
- Full Policy summary are available on request.
Summary of Phil Bessant Tax Investigations Service
We take tax investigations very seriously and whilst we always ensure Returns are filed in a manner that should limit the possibility of an enquiry HMRC select many cases each year for random enquiries. No One can afford to be complacent! Obviously if you are selected for an enquiry we would aim to settle it quickly and with minimal fuss and disruption to you and your business and would aim to minimise any additional tax liabilities. However, answering all of HMRC’s questions could be very time consuming and some investigation can take several months to deal with. As a result our costs of dealing with HMRC’s queries can be significant.
Our highly-trained specialists are experienced in dealing with all forms of tax investigation and have detailed knowledge of the respective rights and powers of the taxpayer and HMRC. We can guide you through the process and negotiate directly with HMRC to ensure that tax, interest charges and penalties are minimised.
It is our belief that the number of tax enquiries will increase. To provide peace of mind to our clients, Phil Bessant Ltd, working together with Professional Fee Protection, can offer you cover against such an investigation. Through what we believe to be the best cover available, PFP’s Premier Plus Policy. PFP can offer you an insurance that will pay up to £100,000 towards your accountants’ fees in the event of a tax investigation
Our Tax Investigation Insurance covers all of the following (and more):
- Full Enquiries
- Aspect Enquiries
- Business Inspection Notices
- IR35 disputes
For further details please download the Phil Bessant Ltd Policy Summary
If you’d like to talk to us about any of our services, please contact us now!