We are becoming increasingly concerned about the threat of tax investigations (Enquiries) given that the black hole in the economy is getting deeper by the day; H. M. Revenue & Customs are likely to be more tenacious then ever; and cases can be selected at random.
The nature of investigations and the money raised for the Revenue can make frightening reading. For example, during 2007/2008 some £385 million was raised from Income Tax Enquiries and a further £771 million was raised for the Exchequer from Corporation Tax Enquiries.
We work hard to ensure that our clients’ chances of being selected for Enquiry are reduced to the minimum and Enquiry Cases which we handle are more likely to have started before we were acting, with our job being to help resolve the issues.
Unfortunately, our professional fees in defending clients, who may be totally innocent of any wrong doing, during an investigation can be extremely costly. Investigations regularly last two or more years and can cost thousands of pounds purely for your defence.
In order to help, for those of our clients for whom we have prepared their Tax Returns, whether personal or corporate, we offer a Tax Investigation Service which ensures that clients have first class representation and is designed to reimburse the costs of professional fees representing you in the event that you are selected for a full Enquiry. For a single modest annual fee we can add clients to the specialist insurance policy which we maintain, which provides cover of up to £75,000 in respect of professional fees for any one claim.
Clients are invited to join the Tax Investigation Service annually but if you require more information, please contact Eric Kench.