Poole: 01202 663600
New Milton: 01425 610166
Please note: Princecroft Willis and Francis Clark have merged. Although it is ‘business as usual’ this site will not be updated and will be phased out over the coming months. For all the latest information please visit the Francis Clark website.
"HMRC’s new computer capacity has freed up a number of staff to review tax matters in depth. In many cases employers have not had a VAT or PAYE review for many years and HMRC are playing catch up, with a promise to revisit within 4 years! Individuals too are suffering with many more in depth reviews. This insurance is, quite frankly, a must for those who have any dealings with HMRC these days”.
"Having been in tax for more than 40 years I strongly recommend that our clients join our Fee Protection Scheme for the reasons mentioned above, coupled with the fact that we have what we consider is the best support from our partners Professional Fee Protection (PFP)".
Most enquiries are generated by computer “risk profiling” and many are selected completely at random. As a result, HMRC sometimes picks the wrong targets. Even if you have done nothing wrong, the taxman will not give up and will still try hard to find errors.
The questions asked by HMRC are usually very detailed and time-consuming to answer. The costs of defending you can easily run into thousands of pounds, even if little or no extra tax is paid at the end of the enquiry. These costs are not covered by the normal annual fees paid to your accountant.
You can subscribe to the Fee Protection Scheme which will cover you for the work and costs of defending you in the event of a tax enquiry by HMRC.
It is an insurance set up by Princecroft Willis with Proessional Fee protection to protect clients from HMRC queries. For a small fee, clients can take out a policy and obtain the benefits described below. Under the policy, the practice can claim professional costs incurred defending clients in the event of a tax enquiry.
If you would like further information about our Tax Investigation Insurance please contact Paul Breakwell on 01202 663600 or email firstname.lastname@example.org