November 24, 2022
by  Rubi Shan

Why you need the Tax Investigation Protection Service

HMRC investigations are significantly growing every year regarding tax enquires. HMRC could pick individuals and businesses at random to ensure that your tax affairs are correct. Are you protected if HMRC opens a costly investigation into your personal or business affair? That is why at Praddy Financial Consultancy we offer a Tax Investigation Protection Service to protect you from the professional costs, stress and uncertainty brought about by an HMRC enquiry.

There might be no additional tax to pay however investigations and enquiries can cost thousands and last for many months. HMRC are targeted with closing the tax gap of £35 billion with small businesses and individuals accounting for over half of this amount.

What does the tax investigation service include?

Your accountant is insured in fees up to £100,000 incurred representing you for any investigation started by HMRC regarding compliance with:

  • Self-Assessment Tax Returns
  • VAT Returns
  • PAYE
  • Furlough Claims – Coronavirus Job Retention Scheme
  • Corporation Tax

*Please note that this does not cover any penalties and interest charges

What is excluded?

  • Fraud – Deliberate Omissions
  • Criminal Prosecutions such as Tax, Fines, Penalties and Interest due
  • Tax avoidance schemes

Unlimited HR Advice
Once your policy is in place, you have access to qualified experts that can take care of your HR queries. These HR expects are just a phone call away 24/7, 365 days a year for in-depth advice or a second opinion.

Tax Fee Protection Service
Please note that our monthly and annual accounting fees DO NOT COVER these professional costs incurred whilst conducting these tax investigations and compliance check. Therefore, we strongly recommend that you are protected against these unexpected costs by taking out a subscription to our Tax-Fee Protection Service. This insurance will cover you annually.

 

Pricing
Limited Companies/Sole Trader Trading businesses

  • £0-£100K Annual Turnover - £10.42/month
  • £100-500K Annual Turnover - £14.58/month
  • £500K and above - £18.75/month

Individual (Self Assessments) - £6.25/month

Please get in touch if you want further information!

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