Tax Investigation FAQs
- Why might I need the Tax Investigations Service?
The Revenue can launch investigations into your tax affairs at random and with no reason given as to why you have been chosen. The cost of dealing with these investigations can be substantial, running into thousands of pounds. Our Tax Investigations Service covers the costs of our professional fees in the event you are selected by the Revenue for an enquiry.
- What does the Tax Investigations Service cover?
The package covers you for our professional fees up to £100,000 if you suffer one of the following investigations:
- Self Assessment Full Enquiries
- Income Tax Self Assessment Aspect Enquiries
- Corporation Tax Self Assessment Aspect Enquiries
- HMRC Enquiries under IR35
- Employer Compliance Disputes
- HMRC VAT Disputes
- Schedule 36 Enquiries
Our package also provides a free, 24 hour Business Legal Helpline designed to help you ensure your business complies with the law. The helpline gives you access to a team of specialist advisers who can advise on employment matters, health and safety regulation and commercial issues.
- What is not covered?
- Claims arising where the annual Returns/accounts are submitted “late”; i.e. outside the statutory limits
- HMRC Special Investigations, Civil Investigations of Fraud, Criminal Investigations Sections and Code of Practice 8 and 9 cases
- Fees incurred prior to the written acceptance of claim
- Enquiries and disputes existing at the time you subscribe to the service
- Enquiries and disputes following a voluntary disclosure of irregularities made to HMRC
- Enquiries into tax planning arrangements where HMRC have allocated a Tax Avoidance Scheme Number
- How does the Tax Investigations Service work?
Once you have subscribed, we will send you a VAT invoice to confirm that you are a designated client within our scheme. If you are selected for investigation by HM Revenue & Customs (HMRC) you simply engage us to handle the enquiries on your behalf.
We will be responsible and have the discretion to make a claim under our insurance policy in respect of our professional fees up to a maximum limit of indemnity of £100,000 for any one claim. This means that you will normally have nothing to pay. We will continue to have the discretion to charge you for the work which cannot be reimbursed under our policy, but as we have negotiated a comprehensive range of cover, this is not likely to happen in normal circumstances.
- How much will my premium be?
Fees start at £49.35 + VAT for individuals and £99.70 + VAT for businesses. Please click here for the fee schedule till 30 September 2019.
- Who underwrites the Tax Investigation Service?
Our Tax Investigation Service is underwritten by Abbey Tax Protection, a trading division of Abbey Protection Group Limited, which is authorised and regulated by the Financial Services Authority. Abbey Tax Protection is the market leader in the provision of tax investigations insurance to the accountancy profession.
- How do I subscribe to the Tax Investigations Service?
Our Tax Investigations Service is only available to Simpkins Edwards clients. New clients are eligible to join the scheme, with no probationary period.
If you are already a Simpkins Edwards client, simply speak to the partner responsible for dealing with your affairs.
For clients already part of the service, we send out an annual renewal notice around 31 August each year.
For more information on our Tax Investigations Service, get in touch.