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.

Tax Investigations Fee Protection

"Along with many other professionals we have seen a considerable increase in the number of enquiries by HMRC", says John Caithness, pictured. 

"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)". 

Some frequently asked questions...

I’ve done nothing wrong, why should I worry about a tax enquiry?

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.

How much could a tax enquiry cost me in professional fees?

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.

Is there anything I can do for peace of mind?

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.

What is the Fee Protection Scheme?

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.

What are the main benefits to subscribing?

  • Princecroft Willis will defend you should you receive any correspondence or visit from HMRC.
  • The potentially high costs of professional fees for that defence will be claimed under the practice’s insurance policy.
  • It will not be necessary to accept unreasonable tax charges by HMRC due to concerns about professional fees.

Click here for more details on our Tax Investigations website.

 


If you would like further information about our Tax Investigation Insurance please contact Paul Breakwell on 01202 663600 or email paul.breakwell@princecroftwillis.co.uk