HMRC Investigation Insurance
Peace Of Mind From The Right Protection
Providing peace of mind and a way for you to financially cover yourself against an HMRC investigation, let’s find out more about what this service looks like, the benefits it can give to your business, and questions to your questions about tax enquiry fee protection.
Alternatively, you can speak to an expert to find the answers you’re looking for.
What Does Insurance Look Like With JFS Torbitt?
Specifically, we offer the following tax investigation services, courtesy of Croner Taxwise:
Protection From
Accountancy Fees
A Service For
All-Sized Companies
Expert
Consultancy
£100,000 indemnity with no excess
Covering your business against the following:
- 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.
WHY CHOOSE HMRC TAX INVESTIGATION PROTECTION?
- Protect your businessAn HMRC investigation is incredibly stressful for businesses that aren’t covered by the right insurance. Our Tax Enquiry Fee Protection Service makes the process as manageable as it can be, taking away the strain and making sure your company is safe.
- Scale without interruptionWhen you’re flagged by HMRC for an investigation, it can affect your plans for business growth in many ways. Be it additional accountancy or the time and effort required to navigate it, our coverage protects against all eventualities so you can continue as normally as possible.
- Save moneyThe cost of an HMRC investigation can spiral out of control depending on the scale of the investigation itself. We cover you for £100,000 against everything the HMRC can throw at you, giving you the chance to save money you had no intention of spending as a business.
- Peace of mindThe number of tax and VAT investigations is increasing year on year, which means that you could be vulnerable. Whether an entire business, a director, or an individual taxpayer, anybody could find themselves in the scope of the HMRC, but we help you shoulder the financial burden.
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Tax Enquiry Fee Protection FAQs
How much am I protected against with tax enquiry fee protection?
Up to £100,000 indemnity with no excess, covering corporation tax, income tax, VAT, and more.
How many tax investigations do HMRC carry out each year?
In the 2020/2021 tax year, there were around 247,000 tax investigations, but in the most recent tax year, there were over 299,000. This means that in the past three tax years, there’s been a 21% rise in tax investigations into small businesses and sole traders. This looks set to increase as HMRC adopts even more sophisticated technologies.
For employees and directors, there are more options, which we can help you with.
What increases the chances of an HMRC investigation?
If your industry deals with lots of ‘cash-in-hand’ work, you could be at higher risk. Noticeable differences between tax returns and frequently filing returns late can also contribute to an HMRC investigation, as can unusual activity in your bank accounts, among other factors.
What if I disagree with HMRC’s decisions?
You can request a statutory review of each decision you disagree with, but this must be done within 30 days of their initial decision letter. A reviewing officer will then take a look at the decision independently from the rest of the investigation and let you know their response.