After temporarily pausing tax investigations as COVID-19 business support measures rolled out earlier this year, HMRC has restarted probes into businesses and individuals’ tax affairs.
The Revenue has also started to direct its attention towards the misuse of coronavirus support schemes, such as the furlough scheme and the self-employed income support scheme.
This will mean that more and more businesses and individuals are likely to be investigated by HMRC. They do not need a reason to investigate you. HMRC can investigate anyone at random.
To provide peace of mind, we run a Tax Investigation Service to help protect clients against the professional costs involved in a tax investigation or enquiry. This service is backed by an insurance policy we have taken out in our own name. A tax investigation could continue for several months or even years and can be extremely stressful.
We must stress that dealing with a tax investigation is not included in our normal annual charges and clients who do not pay for this service will be charged the cost of dealing with an investigation.
The cost of our service will be increasing from 19th March 2021, if you wish to sign up to this service prior to the 19th of March 2021 we will lock in the current price until April 2022. If you sign up after this date you will be charged the new increased rate.
We strongly recommend you consider subscribing to our Tax Investigations Service, the cost of which is dependent on your business turnover. The government has spent in excess of £300 billion already tackling the crisis and this will likely be clawed back in either tax rises or spending cuts. However, in the short term, we expect both options to be unpalatable and so we expect a sharp rise in tax investigations to start to repair the country’s finances.
Bevan Buckland LLP – Tax Investigation Service
|TURNOVER||ANNUAL (EXCLUDING VAT)
|ANNUAL (EXCLUDING VAT)
NEW RATE – AFTER 19TH MARCH 2021
|Less than £2 million||£140.00 exc VAT||£240 exc VAT|
|Between £2 and £5 million||£230.00 exc VAT||£395 exc VAT|
|Between £5 and £10 million||£475.00 exc VAT||£795 exc VAT|
|Over £10 million||Bespoke quote required||Bespoke quote required|
For all subscriptions taken out between today and 19th March 2021, we will fix the current rate until April 2022.
If you wish to take this offer up, please click the ‘Join Now’ button below in order to complete the Tax Investigation Service form and we will raise an invoice for the period in question.
This should be paid as a one-off annual fee, however, if you pay by monthly direct debit for your accountancy fees, we can adjust your instalments accordingly.
Directors and Partners tax affairs are included within the business premium; however, a separate subscription is required where gross rental income exceeds £50,000 per year or you have multiple businesses. Please contact Lewis Turner on 01792 410100 or email firstname.lastname@example.org
For more information, please click the links to view our:
Bevan Buckland LLP