SAFE FROM THE TAXMAN? DON'T COUNT ON IT…

HM Revenue and Customs are channelling an increased number of resources into collecting more tax and VAT from taxpayers. As a result, all businesses are now more likely to face an enquiry. Anyone who completes a tax return could be selected at random for an investigation and the costs to defend these incidents, even though you may be wholly innocent, can be substantial.

Regardless of the outcome of an enquiry, the professional fees incurred during the investigations have to be paid. For example, one of our clients was subject to a full corporation tax enquiry which took over three years to conclude. The professional fees incurred totalled £20,000 and were fully settled by the fee protection service offered by taylorcocks.

The 'TaxSafe – Tax Compliance Service' that we are offering will not only cover enquiries into your business tax return, but if we prepare the director'/partners' personal tax returns, they too will be included.

Our service ensures that our professional fees are covered in the event that you experience any of the following:

• VAT disputes
• PAYE disputes (which can arise from employer compliance visits and includes IR35 enquiries)
• All corporation tax self-assessment enquiries
• All personal self assessment enquiries for directors and partners of a business

Tax investigations are a real and growing threat to small and medium sized companies and we strongly recommend that all of our clients protect themselves and their businesses with this service offered by taylorcocks.